XML 37 R22.htm IDEA: XBRL DOCUMENT v3.25.1
Income Taxes
3 Months Ended
Mar. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes
Note 14. Income Taxes

As of the first quarter of 2025, our effective tax rate was 28.3% as compared to 23.6% in the first quarter of 2024. The higher effective tax rate is driven by our jurisdictional mix of earnings (including the impact of mark-to-market losses on commodity and foreign currency derivatives) and the relative impact of permanent items on lower pre-tax earnings on a year-over-year basis. Those items were partially offset by additional releases of liabilities for uncertain tax positions due to audit developments in the first quarter of 2025 as compared to the first quarter of 2024.