Income Taxes |
6 Months Ended |
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Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Note 9 - Income Taxes The provision for income taxes for interim periods is determined using an estimate of the Company’s annual effective tax rate as prescribed under ASC 740 “Income Taxes” (“ASC 740”). Any changes to the estimated annual effective tax rate are recorded in the interim period in which the changes occur. The estimated annual effective tax rate is subject to significant volatility due to several factors, including changes in the forecasted pre-tax income (loss) and income tax (expense) benefit, realizability of deferred tax assets, intercompany transactions, foreign currency gain (loss), mergers and acquisitions, jurisdictional footprints, and changes in the Company’s business operations. The Company recorded an income tax expense of $73.4 million and an income tax benefit of $23.3 million for the three months ended June 30, 2026 and 2025, respectively, and income tax expense of $76.0 million and $41.3 million for the six months ended June 30, 2026 and 2025, respectively. For 2026, the Company’s effective tax rate is expected to be a large negative percentage due to a change in valuation allowance, pre-tax loss and income tax expense items that are not analogous to pre-tax loss, such as foreign withholding taxes, and non-deductible interest expense. The effective tax rate may vary significantly throughout the year depending on the changes in the pre-tax income (loss).
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