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Income Taxes
 3 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
Income Taxes

NOTE 16 – Income Taxes

The effective tax rates for the three months ended March 31, 2026 and March 31, 2025 are as follows:

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

March 31,

 

 

 

2026

 

 

2025

 

Effective tax rate

 

 

20.7

%

 

 

17.1

%

 

The increase in the effective income tax rate is primarily attributed to a change in mix of earnings taxed at higher rates. The first quarter 2025 and 2026 effective income tax rates were lower than the U.S. statutory federal income tax rate primarily due to foreign earnings that are taxed at lower rates and tax benefits recorded upon vesting of RSUs.