Income Taxes |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||
| Income Taxes | Income Taxes Effective Tax Rates Our quarterly provision for income taxes is measured using an annual effective tax rate, adjusted for discrete items within the periods presented. Our effective tax rates are as follows:
Our effective tax rate for the three months ended March 31, 2026 is higher than the prior year’s comparable period, primarily due to an increase in non-U.S. taxes and statutorily non-deductible costs. Our effective tax rate for the three months ended March 31, 2026 is approximately equal to the statutory U.S. federal tax rate of 21%, and any overall net differences are primarily due to earnings in jurisdictions with statutory tax rates higher than the United States, expenses that are statutorily non-deductible for income tax purposes and the impact of U.S. state taxes, partially offset by excess share-based compensation benefits, tax credit utilization, and the statutory U.S. deduction related to our non-U.S. subsidiaries’ income. As of March 31, 2026 and December 31, 2025, the total amount of gross unrecognized tax benefits, excluding interest and penalties, was $10.9 million and $10.3 million, respectively.
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