Income Taxes |
9 Months Ended |
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Sep. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes Our effective tax rate was 0.9% and 10.2% for the three and nine months ended September 30, 2026, respectively, and 17.2% and 17.0% for the three and nine months ended September 30, 2025, respectively. For the three and nine months ended September 30, 2026, the effective tax rate was lower than the statutory rate primarily due to the recognition of discrete tax benefits associated with the reduction in unrecognized tax benefits, excess tax benefits from the vesting of stock-based awards and the purchase of tax credits at a discount to face value. For the nine months ended September 30, 2025, the effective tax rate was lower than the statutory rate primarily due to excess tax benefits from the vesting of stock-based awards. During the three and nine months ended September 30, 2026, the Company recognized an income tax benefit of approximately $22 million from the release of unrecognized tax benefits in connection with a short period return for 2022 following the expiration of the applicable statute of limitations. During the three and nine months ended September 30, 2026, the Company purchased approximately $20 million in tax credits for approximately $18 million in cash. The purchased tax credits will be utilized to partially offset the Company’s Federal and New Jersey tax liabilities for 2025.
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