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Income Taxes | 3 Months Ended
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Mar. 31, 2026
Income Tax Disclosure [Abstract] |
Income Taxes | INCOME TAXES For interim periods, income tax expense is recognized by applying the estimated annual effective tax rate to year-to-date results, unless doing so does not yield a reliable estimate. Each quarter, the income tax accrual is updated based on the latest estimate, and any difference from the previously accrued year-to-date balance is recorded in the current quarter. Changes in profitability estimates across jurisdictions may affect quarterly effective tax rates. The provision for income taxes for the three months ended March 31, 2026, and 2025, reflected an estimated annual effective tax rate of 24% excluding discrete items discussed below. The total tax provision for the three months ended March 31, 2026, was $9 million, compared to $26 million for the corresponding period in 2025. The total effective tax rate for the three months ended March 31, 2026, was 25%, compared to 22% for the corresponding period in 2025. The year-over-year increase in the total effective tax rate resulted from discrete tax benefits in the prior year not present in the current year. During the three months ended March 31, 2026, discrete items were insignificant. During the three months ended March 31, 2025, we recognized a $3 million net discrete tax benefit primarily related to inflationary and foreign currency exchange-related effects and stock-based compensation.

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