Income Taxes |
6 Months Ended | ||||||||||||||||||
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Jun. 30, 2026 | |||||||||||||||||||
| Income Tax Disclosure [Abstract] | |||||||||||||||||||
| Income Taxes |
The Company’s provision for income taxes for interim periods is determined using an estimated annual effective tax rate, adjusted for discrete items arising in that quarter. The Company’s effective tax rates for each period presented are the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rates. The Company’s effective tax rate was 18.2% and 24.5% for the three months ended June 30, 2025 and 2026, respectively. The Company’s effective tax rate was 16.3% and 23.8% for the six months ended June 30, 2025 and 2026, respectively. The Company’s provision for income taxes varied from the tax computed at the U.S. federal statutory income tax rate primarily due to tax effects of stock-based compensation recognized, U.S. research and development credits generated, and the income taxes generated in U.S. states and foreign jurisdictions.
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