Income Taxes |
6 Months Ended |
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Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes The provision for income taxes was $79.1 million and $77.0 million for the three months ended June 30, 2026 and 2025, respectively. The effective income tax rate was 22.3% and 24.2% for the three months ended June 30, 2026, and 2025, respectively. The decrease in the effective income tax rate in the current period was primarily attributable to a favorable change in the forecasted geographic mix of earnings compared to the same period in 2025. The provision for income taxes was $149.2 million and $133.1 million for the six months ended June 30, 2026 and 2025, respectively. The effective income tax rate was 23.1% and 22.8% for the six months ended June 30, 2026 and 2025, respectively. The increase in the effective income tax rate in the current period was primarily due to the unfavorable impact of stock-based compensation, partially offset by the favorable release of reserves upon the resolution of the related inquiries as well as a favorable change in the forecasted geographic mix of earnings compared to the same period in 2025. The Company had gross unrecognized tax benefits of $297.7 million on June 30, 2026 and $301.6 million on December 31, 2025. Recent legislative developments in the U.S. and internationally have introduced significant changes to tax frameworks, including modifications impacting business provisions, international taxation, and global minimum tax requirements. These changes have various effective dates, with some provisions already in effect and others to be implemented over the coming years. While these evolving legislative measures have not had a material impact on the Company’s consolidated financial results in the current period, the Company is actively monitoring and assessing their potential effects. The Company will continue to evaluate and reflect the impact of these legislative changes in its future financial statements as appropriate.
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