Income Taxes |
9 Months Ended |
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Sep. 30, 2026 | |
| Income Taxes | |
| Income Taxes | Note 13. Income Taxes Income tax benefit was $1.8 million for the three months ended September 30, 2026, compared to income tax expense of $4.2 million for the three months ended September 30, 2025. The $5.9 million decrease was primarily due to the reversal of uncertain tax positions resulting from an audit settled during the period. The reported effective tax rate (“ETR”) for the three months ended September 30, 2026 was (4.9)% compared to 13.8% for the three months ended September 30, 2025. The ETR for the nine months ended September 30, 2026 was less than the U.S. statutory rate of 21%, primarily attributable to the reversal of uncertain tax positions resulting from an audit settled during the period and the Foreign Derived Intangible Income deduction. On July 4, 2025, legislation known as the One Big Beautiful Bill Act (the “OBBBA”) was signed into law. The OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act. The legislation has multiple effective dates, with certain provisions being implemented through 2027. The impacts of the portions of the OBBBA that have come into effect are reflected in our results for the quarter ended September 30, 2026. We will continue to evaluate the full impact of these legislative changes as additional guidance becomes available.
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