Income Taxes |
9 Months Ended |
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Sep. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes The provision for income taxes was $41.3 million and $34.1 million for the three months ended September 30, 2026 and 2025, respectively. The effective income tax rate was 16.1% and 49.1% for the three months ended September 30, 2026, and 2025, respectively. The decrease in the effective income tax rate in the current period was primarily attributable to a favorable release of reserves upon the resolution of the related inquiries, as well as the 2025 impact of the goodwill impairment, which was not deductible for tax purposes. The provision for income taxes was $190.5 million and $167.2 million for the nine months ended September 30, 2026 and 2025, respectively. The effective income tax rate was 21.1% and 25.6% for the nine months ended September 30, 2026 and 2025, respectively. The decrease in the effective income tax rate in the current period was primarily due to the same factors that caused the year-over-year quarterly decrease. The Company had gross unrecognized tax benefits of $293.2 million on September 30, 2026 and $301.6 million on December 31, 2025. Recent legislative developments in the U.S. and internationally have introduced significant changes to tax frameworks, including modifications impacting business provisions, international taxation, and global minimum tax requirements. These changes have various effective dates, with some provisions already in effect and others to be implemented over the coming years. While these evolving legislative measures have not had a material impact on the Company’s consolidated financial results in the current period, the Company is actively monitoring and assessing their potential effects. The Company will continue to evaluate and reflect the impact of these legislative changes in its future financial statements as appropriate.
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