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Income Taxes | 9 Months Ended
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Sep. 30, 2025
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes The Company records income tax expense on an interim basis. The estimated annual effective income tax rate is adjusted quarterly. For the nine months ended September 30, 2025, the estimated annual effective income tax rate differs from the statutory tax rate primarily due to net decreases in valuation allowance reserves. For the nine months ended September 30, 2024, the Company used an actual effective income tax rate for the year-to-date period to record its income tax expense. The actual effective income tax rate differs from the statutory tax rate primarily due to impairment charges related to foreign investments, net increases in valuation allowance reserves, and estimated non-deductible expenses. The Company currently has various open tax audits in multiple jurisdictions. From time to time, the Company will receive tax assessments as part of the process. Based on the information available as of September 30, 2025, the Company has recorded its best estimate of the potential settlements of these audits. Actual results could differ from the estimated amounts. The Company’s liability for unrecognized tax benefits as of September 30, 2025, was $9.9 million, an increase of $1.0 million from $8.9 million as of December 31, 2024. The Company anticipates a $1.8 million decrease to its liability for unrecognized tax benefits within the next twelve months due to the resolution of income tax audits or statute expirations, of which $0.3 million would impact the Company’s effective tax rate. On July 4, 2025, the United States government passed into law a broad reconciliation bill, commonly referred to as the One Big Beautiful Bill Act (the “OBBB Act”), impacting various areas of domestic policy, including changes to the Internal Revenue Code. The Company is analyzing the various tax provisions of the OBBB Act. The OBBB Act did not have a material impact to the Company's financial statements for the current period ended September 30, 2025. The Company anticipates the OBBB Act will result in a favorable reduction in U.S. cash tax payments for at least the next few years.

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