v3.26.3
Income Taxes
 9 Months Ended
Sep. 30, 2026
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Our effective tax rates were as follows:
Third QuarterFirst Nine Months
2026202520262025
Effective tax rate21.5 %22.3 %23.6 %22.6 %
For the third quarter of 2026, the change in our effective tax rate was driven by a favorable shift in the mix of income from higher tax jurisdictions to lower tax jurisdictions, partially offset by an unfavorable comparison to the impact of non-recurring purchased tax credits in the third quarter of 2025.
For the first nine months of 2026, the change in our effective tax rate was driven by a non-cash revaluation of state deferred tax liabilities as a result of the JDE Peet's Acquisition and an unfavorable comparison to the impact of non-recurring purchased tax credits in the first nine months of 2025, partially offset by discrete tax impacts associated with the completion of the JV Investment and the creation of the Pod Manufacturing JV.
CASH PAID FOR INCOME TAXES
We paid $518 million and $322 million in cash for income taxes, net of refunds received, during the first nine months of 2026 and 2025, respectively.