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Income Taxes
 9 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company’s effective tax rate was 28.7% and 27.0% for the three and nine months ended September 30, 2025, respectively. For both the three and nine months ended September 30, 2025, the tax rate varied from the U.S. statutory rate primarily due to non-deductible charges from the repurchase of the Company’s convertible debt.
The Company's effective tax rate was 6.5% and a benefit of 68.2% for the three and nine months ended September 30, 2024, respectively. During the three and nine months ended September 30, 2024, the Company recorded a tax benefit of $12.1 million and $165.6 million, respectively, associated with the release of the majority of its valuation allowance, of which $136.1 million of the tax benefit recorded during the nine months ended September 30, 2024 related to a discrete tax benefit arising from the expected realization of deferred tax assets in future years. Additionally, during the three and nine months ended September 30, 2024, the Company recorded a discrete tax benefit of $2.7 million and 7.5 million, respectively, associated with a U.S. federal research and development tax credit recovery project for tax years 2017 through 2022.