INCOME TAXES |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | INCOME TAXES The Company’s effective tax rate for the six-month period ended June 30, 2026 was 25.2 percent as compared to 24.9 percent for the six-month period ended June 30, 2025. The effective tax rate differs from the U.S. statutory rate of 21 percent primarily due to U.S. state taxes and foreign earnings taxed at rates different than the U.S. statutory rate partially offset by an object exemption of foreign business profits in the Netherlands and the recognition of the U.S. foreign-derived intangible income (FDII) provisions. For the second quarter of 2026, the Company recorded an effective tax rate of 25.7 percent, compared with 24.9 percent in the second quarter of 2025. The increase in the effective tax rate for the second quarter and first six months of 2026 compared to the comparable periods in the prior year was primarily due to increased unfavorable discrete events in 2026.
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