XML 27 R16.htm IDEA: XBRL DOCUMENT v3.26.1
INCOME TAX
 3 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
INCOME TAX INCOME TAX
For the three months ended March 31, 2026, our effective income tax rate of 5.3% was lower than the U.S. statutory rate primarily as a result of tax credits, foreign branch operations, and taxes on foreign earnings, partially offset by the impact of Base Erosion Anti-Abuse Tax. The Company anticipates realizing the income tax benefit recognized during the period as a result of projected full year income from continuing operations before income taxes and equity in income of equity method investments as well as reversing taxable temporary differences.
For the three months ended March 31, 2025, our effective income tax rate of 16.7% differed favorably from the U.S. statutory rate primarily as a result of tax credits and foreign branch operations.