Income Taxes |
6 Months Ended |
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Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes: The effective income tax rate for the three-month and six-month periods ended June 30, 2026 were 21.3% and 16.6%, respectively, compared to (380.0)% and (107.8)% for the three-month and six-month periods ended June 30, 2025, respectively. The Company’s effective income tax rate fluctuates based on, among other factors, the amount and location of income. The change in effective tax rate in the three-month and six-month periods ended June 30, 2026, compared to the three-month and six-month periods ended June 30, 2025, was due to the impact of 2026 earnings in various jurisdictions, including the impact of valuation allowances. The difference between the U.S. federal statutory income tax rate of 21% and the Company’s effective income tax rate for the three-month and six-month periods ended June 30, 2026 was due to the net impact of the location in which income was earned, including the impact of valuation allowances for losses in the Company’s consolidated U.S. entities, Australian entities and certain entities in China. The difference between the U.S. federal statutory income tax rate of 21% and the Company’s effective income tax rate for the three-month and six-month periods ended June 30, 2025 was due to the net impact of the location in which income was earned, including the impact of valuation allowances for losses in our consolidated Australian entities and certain entities in China.
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