XML 145 R95.htm IDEA: XBRL DOCUMENT v3.25.4
Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Amount      
U.S. Federal statutory tax rate $ 247 $ 272 $ 139
State and local income taxes, net of federal income tax effect 39 48 28
Global intangible low-taxed income 18 14 7
Foreign-derived intangible income (28) (30) (30)
Other 14 4 0
Research and development credits (15) (15) (12)
Foreign tax credits (39) 0 0
Other 0 0 (7)
Changes in valuation allowances 6 0 0
Tax loss (benefit) from stock-based compensation 17 15 16
Other 1 1 1
Changes in unrecognized tax benefits 10 (3) (1)
Return to provision (17) 0 (14)
Changes in capital losses (15) 0 0
Total provision for income taxes $ 265 $ 362 $ 157
Percent      
U.S. Federal statutory tax rate 21.00% 21.00% 21.00%
State and local income taxes, net of federal income tax effect 3.30% 3.70% 4.20%
Global intangible low-taxed income 1.50% 1.10% 1.10%
Foreign-derived intangible income (2.40%) (2.30%) (4.50%)
Other 1.20% 0.30% 0.00%
Research and development credits (1.20%) (1.20%) (1.80%)
Foreign tax credits (3.30%) 0.00% 0.00%
Other 0.00% 0.00% (1.10%)
Changes in valuation allowances 0.50% 0.00% 0.00%
Tax loss (benefit) from stock-based compensation 1.40% 1.20% 2.40%
Other 0.10% 0.10% 0.20%
Changes in unrecognized tax benefits 0.90% (0.20%) (0.20%)
Return to provision (1.40%) 0.00% (2.10%)
Changes in capital losses (1.30%) 0.00% 0.00%
Effective income tax rate 22.50% 27.90% 23.80%
India      
Amount      
Withholding tax $ 12 $ 24 $ 16
Other $ 4 $ 4 $ 1
Percent      
Withholding tax 1.00% 1.80% 2.40%
Other 0.30% 0.30% 0.20%
Hong Kong      
Amount      
Other $ 0 $ (3) $ (3)
Nontaxable interest $ 0 $ (10) $ (10)
Percent      
Other 0.00% (0.20%) (0.40%)
Nontaxable interest 0.00% (0.80%) (1.50%)
Bermuda      
Amount      
Statutory tax rate difference $ (13) $ 0 $ 0
Percent      
Statutory tax rate difference (1.10%) 0.00% 0.00%
Other foreign jurisdictions      
Amount      
Statutory tax rate difference $ 26 $ 38 $ 22
Percent      
Statutory tax rate difference 2.20% 2.90% 3.30%
United States      
Amount      
Other $ (2) $ 3 $ 4
Percent      
Other (0.20%) 0.20% 0.60%