XML 21 R10.htm IDEA: XBRL DOCUMENT v3.25.3
Taxation
9 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Taxation Taxation
For the three and nine months ended September 30, 2025, income tax expense was $11 million and $55 million, respectively, compared to income tax expense of $7 million and $20 million for the three and nine months ended September 30, 2024, respectively.
The increase in tax expense for the three months ended September 30, 2025, relative to the three months ended September 30, 2024, primarily reflects changes in the Company's mix of pre-tax income and loss among tax jurisdictions.
The increase in tax expense for the nine months ended September 30, 2025, relative to the nine months ended September 30, 2024, primarily reflects changes in the Company's mix of pre-tax income and loss among tax jurisdictions and changes in valuation allowances established for Switzerland and Brazil.
On July 4, 2025, the U.S. enacted the One Big Beautiful Bill Act ("OBBBA"). The OBBBA includes many tax provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act and provisions allowing accelerated tax deduction for qualified property. The legislation does not have a material impact to our unaudited Condensed Consolidated Financial Statements.