INCOME TAXES |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | (7) INCOME TAXES The Company’s effective tax rate was 19.7%, 16.1%, 23.0%, and 28.8% for the three and six months ended June 30, 2026 and 2025, respectively. The effective tax rate in the three months ended June 30, 2026 was primarily influenced by the discrete tax benefits related to stock compensation. The effective tax rate in the six months ended June 30, 2026 was primarily influenced by the discrete tax benefits related to stock compensation and the interest rate swap settlement. Refer to "Note 9 - Financial Instruments and Risk Management" for additional information about the interest rate swap settlement. The effective rate for the comparative three months ended June 30, 2025 was primarily influenced by the discrete tax benefits related to changes in deferred tax liabilities and stock compensation. The effective rate for the comparative six months ended June 30, 2025 was primarily influenced by the negative impact of a valuation allowance established to account for legislative changes effective in the first quarter of 2025 partially offset by discrete tax benefits related to changes in deferred tax liabilities and stock compensation. The Company provided U.S. federal income taxes and foreign withholding taxes on all temporary differences attributed to basis differences in foreign subsidiaries that are not considered indefinitely reinvested. As of June 30, 2026, the Company has certain earnings of certain foreign affiliates that continue to be indefinitely reinvested, but it was not practicable to estimate the associated deferred tax liability, due to interaction with other tax laws and regulations in the year of inclusion.
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