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Income Taxes
 3 Months Ended
Mar. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes

11. Income Taxes

The Company’s effective tax rates on pre-tax income were 16.1% and 16.0% for the three months ended March 31, 2025 and 2024, respectively. For the three months ended March 31, 2025, the effective tax rate was impacted by the reorganization of the Company’s international operations, offset by discrete benefits in the period.

 

Unrecognized tax benefits are reflected in Income taxes payable in the Condensed Consolidated Balance Sheets. The total amount of unrecognized tax benefits as of March 31, 2025 and December 31, 2024 was $53.7 million and $71.6 million, respectively, including interest and penalties.

 

The Company’s tax filings are subject to examination by U.S. federal, state, and various non-United States jurisdictions. The conclusion of the examination of the Company’s consolidated federal income tax returns for 2017 and 2018 resulted in both agreed and unagreed adjustments. The Company is contesting the one remaining unagreed adjustment at the IRS Appeals level and has fully reserved for this unagreed adjustment. The statute of limitations for the U.S. federal returns for 2017 and 2018 has been extended to September 30, 2025. The Company’s U.S. federal income tax returns since 2021 are also eligible to be examined.