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Income Taxes | 9 Months Ended
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Sep. 30, 2025
Income Tax Disclosure [Abstract] |
Income Taxes | Note 5 - Income Taxes The Company's provision for income taxes in interim periods is computed by applying the estimated annual effective tax rates to income or loss before income taxes for the period. In addition, non-recurring or discrete items are recorded during the period(s) in which they occur.
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 | 2024 |  | 2025 | 2024
Provision for income taxes | $ | 33.2 |  | $ | 24.6 |  |  | $ | 90.8 |  | $ | 103.2 |
Effective tax rate | 30.9 | % | 21.9 | % |  | 26.5 | % | 25.6 | %
Income tax expense for the three and nine months ended September 30, 2025 was calculated using forecasted multi-jurisdictional annual effective tax rates to determine a blended annual effective tax rate. The effective tax rate differs from the U.S. federal statutory rate of 21% due to the actual and projected mix of earnings in non-U.S. jurisdictions with relatively higher tax rates, U.S. state and local income taxes, and other permanent differences (net). The effective tax rate of 30.9% for the three months ended September 30, 2025 was higher than the effective tax rate for the three months ended September 30, 2024 primarily due to the 2025 discrete impact of the accrual of withholding taxes on dividend distributions. The effective tax rate of 26.5% for the nine months ended September 30, 2025 was higher than the effective tax rate for the nine months ended September 30, 2024 primarily due to the net unfavorable impact of discrete items in comparison to the year ago period. This was partially offset by a decrease in the mix of earnings in non-U.S. jurisdictions with relatively higher tax rates.

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