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INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Provision for Income Taxes
Components of the Company’s income tax provision are as follows:
Year Ended December 31,
202520242023
Current:
Federal$231 $280 $76 
State and Local99 106 67 
Non-U.S.355 316 222 
Total current685 702 365 
Deferred:
Federal35 (21)(14)
State and Local8 (6)(4)
Non-U.S.(60)(35)(20)
Total deferred(17)(62)(38)
Total provision for income taxes$668 $640 $327 
Reconciliation of United States Federal Statutory Tax Rate to Effective Tax Rate on Income before Provision for Income Taxes
A reconciliation of the U.S. federal statutory tax rate to the Company’s ETR on income before provision for income taxes is as follows:
Year Ended December 31,
202520242023
U.S. statutory tax rate$657 21.0 %$567 21.0 %$406 21.0 %
State and local taxes, net of federal tax benefit (1)
93 3.0 %74 2.7 %49 2.5 %
Net U.S. tax effect of cross-border tax laws(4)(0.1)%(14)(0.5)%2 0.1 %
Other nontaxable or nondeductible items30 1.0 %22 0.9 %4 0.2 %
Excess tax benefits on share-based payments(33)(1.1)%(27)(1.0)%(15)(0.8)%
Tax credits - research credit(12)(0.4)%(15)(0.6)%(19)(0.9)%
Domestic state and local income taxes, net of federal effect731 23.4 %607 22.5 %427 22.1 %
Foreign Tax Expense
Belgium
     Innovation deduction(37)(1.2)%(25)(0.9)%(26)(1.3)%
     Other15 0.4 %3 0.1 %10 0.5 %
United Kingdom11 0.4 %34 1.3 %25 1.2 %
Other foreign jurisdictions3 0.1 %1 — %7 0.4 %
Tax expense (benefit) relating to foreign operations(8)(0.3)%13 0.5 %16 0.8 %
Changes in unrecognized tax benefits(55)(1.8)%20 0.7 %(116)(6.0)%
Total$668 21.3 %$640 23.7 %$327 16.9 %
(1) For all years presented, state taxes in California, New York and New York City made up the majority (greater than 50 percent) of the tax effect in this category.
Schedule of Cash Flow, Supplemental Disclosures
Components of the Company’s income tax paid are as follows:
Year Ended December 31,
202520242023
U.S. Federal$353 $223 $59 
U.S. State and Local132 88 23 
Total U.S.485 311 82 
Belgium32 39 32 
Canada68 63 44 
Germany43 30 35 
United Kingdom79 93 64 
Other foreign jurisdictions118 77 87 
Total non-U.S.340 302 262 
Total Income Tax Paid$825 $613 $344 
Source of Income before Provision for Income Taxes
The source of income before provision for income taxes is as follows:
Year Ended December 31,
202520242023
U.S.$1,743 $1,446 $892 
Non-U.S.1,387 1,253 1,043 
Income before provision for income taxes$3,130 $2,699 $1,935 
Components of Deferred Tax Assets and Liabilities
The components of deferred tax assets and liabilities are as follows:
December 31,
20252024
Deferred tax assets:
Account receivable allowances$10 $10 
Stock-based compensation69 60 
Accrued compensation and benefits52 50 
Capitalized costs43 24 
Operating lease liabilities87 84 
Deferred revenue217 211 
Net operating loss64 58 
Uncertain tax positions30 33 
Loss on net investment hedges - OCI

83 — 
Interest expense carryforward25 20 
Other25 30 
Total deferred tax assets705 580 
Deferred tax liabilities:
Accumulated depreciation and amortization of intangible assets and capitalized software(563)(522)
ROU Assets(67)(56)
Capital gains(14)(13)
Deferred tax on unremitted foreign earnings(21)(20)
Gain on net investment hedges - OCI(4)(82)
Other(16)(18)
Total deferred tax liabilities(685)(711)
Net deferred tax asset and (liabilities)
20 (131)
Valuation allowance(30)(25)
Total net deferred tax liabilities$(10)$(156)
Schedule of Unrecognized Tax Benefits Roll Forward
A reconciliation of the beginning and ending amount of UTPs is as follows:
Year Ended December 31,
202520242023
Balance as of January 1$211 $196 $322 
Additions for tax positions related to the current year22 33 21 
Additions for tax positions of prior years— 11 3 
Reductions for tax positions of prior years(5)(11)(17)
Settlements with taxing authorities— (3)(108)
Lapse of statute of limitations(70)(15)(25)
Balance as of December 31$158 $211 $196