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INCOME TAXES | 9 Months Ended
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Sep. 30, 2025
Income Tax Disclosure [Abstract] |
INCOME TAXES | INCOME TAXES Our effective income tax rates were 20.4% and 20.2% for the three and nine months ended September 30, 2025, respectively, compared to 22.1% and 21.3% for the three and nine months ended September 30, 2024, respectively. The decrease in our effective tax rate for the three months ended September 30, 2025, compared to the same period during the prior year, was primarily due to an increase in tax benefits related to share-based compensation, partially offset by a reduction in our U.S. tax benefit associated with Foreign-Derived Intangible Income as a result of accelerating our research and development deductions as allowed by recent U.S. tax law changes. The decrease in our effective tax rate for the nine months ended September 30, 2025, compared to the same period during the prior year, was primarily driven by the increase in tax benefits related to share-based compensation and the resolution of international tax audits, partially offset by the impacts related to recent U.S. tax law changes. The effective tax rate for the three and nine months ended September 30, 2025, was lower than the U.S. federal statutory tax rate of 21% primarily due to tax benefits from share-based compensation, partially offset by U.S. state taxes. Cash paid for income taxes, net of refunds, during the nine months ended September 30, 2025, and 2024, was $150.1 million and $233.1 million, respectively. The reduction in income taxes paid during the nine months ended September 30, 2025, compared to the nine months ended September 30, 2024, was primarily due to the acceleration of our research and development deductions as allowed by recent U.S. tax law changes.

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