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Provision for Income Taxes (Tables)
3 Months Ended
Mar. 31, 2025
Income Tax Disclosure [Abstract]  
Components of provision for income taxes

The components of provision for income taxes are as follows (in millions):

 

 

 

March 31,
2025

 

 

March 31,
2024

 

Income Tax Provision

 

$

8.7

 

 

$

19.8

 

Effective Tax Rates (a)

 

 

34.7

%

 

 

27.7

%

Penalties and Interest (recorded in provision for
   income taxes for unrecognized tax benefits)

 

$

0.8

 

 

$

1.2

 

a)
The increase in the Company's effective tax rate was primarily due to changes in jurisdictional mix and net unfavorable discrete activities.
Components of unrecognized tax benefits and accrued interest and penalties

The table below summaries unrecognized tax benefits and accrued interest and penalties components (in millions):

 

 

 

March 31,
2025

 

 

December 31,
2024

 

Unrecognized Tax Benefits (a)

 

$

65.6

 

 

$

63.7

 

Accrued Interest and Penalties (b)

 

$

6.0

 

 

$

5.3

 

a)
This excludes penalties and interest. If these unrecognized tax benefits were recognized, there would be a reduction of the Company's effective tax rate.
b)
These are related to uncertain tax positions and were included in other long-term liabilities on the Company's unaudited condensed consolidated balance sheets.