XML 45 R34.htm IDEA: XBRL DOCUMENT
v3.25.2

Income Taxes | 6 Months Ended
--- | ---
Jun. 30, 2025
Income Tax Disclosure [Abstract] |
Schedule of Effective Income Tax Rate Reconciliation |
|  | THREE MONTHS ENDED |  | SIX MONTHS ENDED
|  | JUNE 30 |  | JUNE 30
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Income before income taxes |  | $ | (13.2) |  |  | $ | 90.0 |  |  | $ | 3.6 |  |  | $ | 166.9 |
Statutory taxes (21%) |  | $ | (2.8) |  |  | $ | 18.9 |  |  | $ | 0.7 |  |  | $ | 35.0 |
Interim adjustment |  | 3.8 |  |  | 0.2 |  |  | 4.3 |  |  | 0.4 |
Permanent adjustments: |  |  |  |  |  |  |  |
Valuation allowance |  | 0.2 |  |  | 4.4 |  |  | 4.1 |  |  | 9.7 |
Other |  | (0.4) |  |  | 3.8 |  |  | (0.2) |  |  | 7.2 |
Discrete items |  | (0.6) |  |  | (1.2) |  |  | (0.6) |  |  | (1.1) |
Income tax expense |  | $ | 0.2 |  |  | $ | 26.1 |  |  | $ | 8.3 |  |  | $ | 51.2 |
Reported income tax rate |  | n.m. |  | 29.0 | % |  | n.m. |  | 30.7 | %
n.m. - not meaningful |  |  |  |  |  |  |  |
During 2025 and 2024, the Company’s reported income tax rate differs from the U.S. federal statutory rate primarily as a result of recording additional valuation allowance attributable to the capitalization of research and development expenses under current U.S. tax rules. In 2025, the reported income tax rate was further impacted by an interim adjustment from pretax losses for which no tax benefit was recognized.

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration