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Income Taxes | 3 Months Ended
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Mar. 31, 2025
Income Tax Disclosure [Abstract] |
Income Taxes | (7) Income Taxes We recorded income tax expense at an effective rate of 66.8% for the three months ended March 31, 2025, as compared to an effective rate of 31.0% for the three months ended March 31, 2024. The 2025 rate was unfavorably impacted by the lower level and overall mix of earnings due in part to restructuring costs recorded in the quarter and the 2025 enacted one-time French exceptional corporate income tax surcharge. The 66.8% effective tax rate for the three months ended March 31, 2025 was higher than the United States Federal statutory rate of 21% primarily due to the overall mix of earnings, tax losses in certain countries for which we did not recognize a corresponding tax benefit due to valuation allowances, the French exceptional corporate income tax surcharge, and the French business tax. We had gross unrecognized tax benefits related to various tax jurisdictions, including interest and penalties, of $36.8 as of March 31, 2025. If recognized, the entire amount would favorably affect the effective tax rate except for $9.5. As of December 31, 2024, we had gross unrecognized tax benefits related to various tax jurisdictions, including interest and penalties, of $36.1. We conduct business globally in various countries and territories. We are routinely audited by the tax authorities of the various tax jurisdictions in which we operate. Generally, the tax years that could be subject to examination are 2018 through 2025 for our major operations in France, Italy, the United Kingdom and the United States. As of March 31, 2025, we were subject to tax audits in Austria, Germany, India, Israel, Spain and the United States.

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