TAXES |
3 Months Ended |
|---|---|
Jun. 30, 2026 | |
| TAXES. | |
| TAXES | NOTE 5. TAXES For the three months ended June 30, 2026, the Company recorded an income tax benefit of $14 million, reflecting an effective tax rate of 20.6%, compared to a tax expense of $36 million and an effective tax rate of 39.1% for the three months ended June 30, 2025. The income tax benefit in the current-year period was primarily driven by a pretax loss, resulting in a tax benefit in jurisdictions where such losses are expected to be realized. The income tax expense in the prior-year period was primarily attributable to taxes on foreign operations and valuation allowances recorded in certain jurisdictions against deferred tax assets that were not more likely than not to be realized. |