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Income Taxes
 3 Months Ended
Mar. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes
NOTE 9 - INCOME TAXES
For the three-month period ended March 31, 2025 and 2024, the Company’s effective tax rate was 16% and 19%, respectively. The lower effective tax rate for the three months ended March 31, 2025 compared to the three months ended March 31, 2024 was primarily due to the favorable impact from the increase in excess tax benefits on share-based compensation, the decrease of nondeductible compensation, and favorable impact from the mix of earned income in certain foreign jurisdictions.
The Company provides valuation allowances against deferred tax assets when it is more likely than not that some portion or all of its deferred tax assets will not be realized. During the period ended March 31, 2025, the Company did not record any additional valuation allowances in various jurisdictions on its deferred tax assets.
For the three-month periods ending March 31, 2025 and 2024, the Company did not record any new uncertain tax positions.