Note 13 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Notes Tables

Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]

	Year Ended December 31,
	2025			2024			2023
U.S.	$	(118,484	)	$	(46,263	)	$	(15,066	)
Foreign		884,700			619,175			520,907
Income before income taxes	$	766,216		$	572,912		$	505,841

The components of the income tax expense (benefit), net were as follows for the periods presented (in thousands):

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	Year Ended December 31,
	2025			2024 (As Restated)			2023
Current:
Federal	$	19,428		$	72,576		$	61,064
State		1,345			348			4,257
Foreign		84,284			11,155			5,702
Deferred:
Federal		(314	)		2,773			(1,705	)
State		(212	)		160			(744	)
Foreign		40,202			(1,106,158	)		9,893
Income tax expense (benefit), net	$	144,733		$	(1,019,146	)	$	78,467

Beginning in 2025 annual reporting, we adopted ASU 2023-09 prospectively. Refer to Note 1, Summary of Significant Accounting Policies for additional details on the adoption of ASU 2023-09. A reconciliation of the U.S. federal statutory income tax rate to our effective tax rate pursuant to the disclosure requirements of ASU 2023-09 for the year ended December 31, 2025 is as follows (in thousands, except percentages):

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Year Ended December 31, 2025
	Amount			Percent
U.S. federal statutory income tax rate	$	160,905			21.0	%
Domestic federal
Tax credits
Research credits		(19,491	)		(2.5	)
Nontaxable and nondeductible items, net
Share-based payments		39,963			5.2
Other		4,064			0.5
Cross-border tax laws
Global intangible low-taxed income		22,514			2.9
Subpart F income		3,541			0.5
Effects of changes in tax laws or rates enacted in the current period		-			-
Changes in valuation allowances		-			-
Other		508			0.1
Domestic state and local income taxes, net of federal effect (a)		(67	)		-
Foreign tax effects
Switzerland
Statutory income tax rate differential		(106,770	)		(13.9	)
Cantonal taxes, net of federal effect		59,864			7.8
Nontaxable and nondeductible items, net		(21,381	)		(2.8	)
Other		3,499			0.4
Other foreign jurisdictions		(4,069	)		(0.5	)
Worldwide changes in unrecognized tax benefits		1,653			0.2
Effective tax rate	$	144,733			18.9	%

Schedule of Income Tax Rate Reconciliation [Table Text Block]

	Year Ended December 31,
	2024 (As Restated)			2023
U.S. statutory federal tax rate		21.0	%		21.0	%
Foreign income tax at lower rates		(21.4	)		(21.9	)
U.S. tax impact of foreign earnings and losses		15.1			14.5
Changes in valuation allowance		623.8			2.9
Stock-based compensation		1.9			2.2
Return to Provision True Up Adjustment		(0.1	)		(2.0	)
Tax attributes, net of reserves		(210.4	)		(1.3	)
Effects of intercompany transactions		(608.5	)		-
Other adjustments		0.7			0.1
Effective tax rate		(177.9	)%		15.5	%

Schedule of Income Taxes Paid [Table Text Block]

	Year Ended December 31,
	2025
U.S. federal	$	16,162
State and local		940
Foreign
Switzerland		72,005
Other foreign		5,954
Total foreign		77,959
Total income taxes paid, net	$	95,061

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	December 31,
	2025			2024 (As Restated)
Deferred tax assets:
Tax attributes	$	1,205,863		$	1,254,928
Depreciation and amortization		3,482,782			3,465,739
Stock-based compensation		3,977			3,432
Deferred compensation		10,920			11,202
Other expenses not currently deductible		11,357			9,505
Deferred tax assets, gross		4,714,899			4,744,806
Valuation allowance		(3,617,562	)		(3,608,471	)
Deferred tax assets, net of valuation allowance		1,097,337			1,136,335
Deferred tax liabilities:
Undistributed foreign earnings		(781	)		(953	)
Other expenses currently deductible		(4,153	)		(3,184	)
Deferred tax liabilities		(4,934	)		(4,137	)
Net deferred tax assets	$	1,092,403		$	1,132,198
Reported as:
Deferred tax assets, net	$	1,182,883		$	1,225,565
Deferred tax liabilities		(90,480	)		(93,367	)
Net deferred tax assets	$	1,092,403		$	1,132,198

Summary of Valuation Allowance [Table Text Block]

Period	Balance at Beginning of Period		Additions		Reductions			Balance at End of Period
Year ended December 31, 2023	$	20,321	$	15,405	$	(718	)	$	35,008
Year ended December 31, 2024 (As Restated)	$	35,008	$	3,575,542	$	(2,079	)	$	3,608,471
Year ended December 31, 2025	$	3,608,471	$	21,618	$	(12,527	)	$	3,617,562

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

Balance as of January 1, 2023	$	49,277
Increase for tax position of current year		14,108
Increase for tax position of prior year		2,209
Decrease due to settlement with tax authorities		(1,926	)
Decrease due to lapse of statute of limitation		(1,008	)
Balance as of December 31, 2023		62,660
Increase for tax position of current year		18,125
Increase for tax position of prior year		2,180
Decrease due to lapse of statute of limitation		(8,579	)
Balance as of December 31, 2024		74,386
Increase for tax position of current year		17,411
Decrease for tax position of prior year		(1,374	)
Decrease due to lapse of statute of limitation		(9,359	)
Balance as of December 31, 2025	$	81,064