XML 219 R14.htm IDEA: XBRL DOCUMENT v3.25.3
Income Taxes
9 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Income Tax Income Taxes
The effective tax rate was 31.6% for the nine months ended September 30, 2025, compared to 24.9% for the nine months ended September 30, 2024. The increase in the effective tax rate for the nine months ended September 30, 2025 was primarily attributable to non-deductible expenses related to the Brigit acquisition.
On July 4, 2025 the One Big Beautiful Bill Act ("OBBB") was signed into law. The OBBB contains a broad range of tax reform provisions, including the reinstatement of 100% bonus depreciation and the immediate expensing of domestic R&D under the new § 174A of the Internal Revenue Code. As a result of the enactment of OBBB, the acceleration of certain expenses for tax purposes resulted in an increase to the deferred tax liability with a corresponding increase to income tax receivable as of September 30, 2025. The provisions of OBBB did not have a material impact to our tax expenses for the three months ended September 30, 2025, but are expected to have a favorable impact on our cash taxes in 2025.