XML 31 R19.htm IDEA: XBRL DOCUMENT v3.25.1
Income Taxes
 3 Months Ended
Mar. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Our provision for income taxes on a consolidated basis was $52 million for the three months ended March 31, 2025 as compared to a benefit from income taxes of $29 million for the three months ended March 31, 2024. The increase of $81 million is primarily related to an increase in current year earnings and a prior year benefit for the reversal of unrecognized tax positions. Our effective tax rate increased to 21.4% for the three months ended March 31, 2025 from (24.3)% for the three months ended March 31, 2024.
Our effective tax rate for the three months ended March 31, 2025 is different than the U.S. federal statutory tax rate of 21.0% primarily due to the U.S. state taxes and favorable permanent book tax differences.
As of March 31, 2025 and December 31, 2024, the company had gross unrecognized tax benefits of $352 million and $347 million, respectively. The increase of $5 million primarily relates to the accrual of gross unrecognized tax benefits.