Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes The Company’s effective tax rate was 20.0% and 19.7% for the three and six months ended June 30, 2026, respectively. For both the three and six months ended June 30, 2026, the effective tax rate was lower than the U.S. statutory rate primarily due to U.S. research and development credits and a favorable mix of earnings, including increased income taxed at reduced rates and improved utilization of foreign tax credits, partially offset by state income taxes and other permanent differences. The Company’s effective tax rate was 20.8% and 24.3% for the three and six months ended June 30, 2025, respectively. For both the three and six months ended June 30, 2025, the effective tax rate varied from the U.S. statutory rate primarily due to non-deductible charges related to the repurchase of a portion of the Company’s convertible debt, partially offset by windfall tax benefits from employee stock-based compensation.
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