Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | 11. Income Taxes At the end of each quarter, the Company makes an estimate of its annual effective income tax rate. The estimate used in the year-to-date period may change in subsequent periods. The Company's effective income tax rate for the three months ended June 30, 2026 and 2025 was 23.3% and 19.8%, respectively. The 2026 effective tax rate increased when compared to 2025, primarily due to a decrease in the discrete impact from excess tax benefits associated with share-based payments in 2026. During the six months ended June 30, 2026 and 2025 the effective income tax rate was 23.9% and 21.0%, respectively. The 2026 effective tax rate increased when compared to 2025, primarily due to a decrease in the Company's valuation allowance against the Company's deferred tax assets in 2025. The Company's effective income tax rate for the six months ended June 30, 2026 was higher than the federal statutory tax rate of 21% primarily due to the geographical mix of projected profits and non-deductible expenses. These impacts were partially offset by foreign-derived deduction eligible income and research and development tax credits. |