v3.26.1
Income Taxes
 6 Months Ended
Jun. 30, 2026
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The effective tax rate was 15% for the three months and 19% for the six months ended June 30, 2026 compared to 39% for the three months and 31% for the six months ended June 30, 2025. The effective tax rate in each period differed from the U.S. statutory tax rate of 21% principally due to the impact of foreign operations which reflect lower income tax rates in locations outside the United States partially offset by changes in fair value of contingent consideration and business development activities. The decrease in the effective tax rate for the three and six months ended June 30, 2026 over the prior year was primarily due to the decreased impact of changes in fair value of contingent consideration and business development activities. The decrease in the effective tax rate for the three months ended June 30, 2026 over the prior year was partially offset by changes in the impact of foreign operations.