Income Taxes (Notes)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Statutory Tax Rate to Effective Tax Rate Reconciliation

The following table includes a reconciliation of the U.S. statutory tax rate to our effective income tax rate related to income from continuing operations. The disclosures below reflect the requirements of ASU 2023-09 and are presented prospectively. Prior-year disclosures are presented under previous guidance and are not comparable.

For the Year Ended December 31, 2025	Amount		Percentage
U.S federal statutory tax rate	$	136.8	21.0	%
State and local income taxes, net of federal income tax effect	3.8		0.6	%
Foreign tax effects
Luxembourg	7.7		1.2	%
Italy	6.4		1.0	%
China	5.6		0.9	%
Netherlands	3.6		0.5	%
Chile	3.0		0.5	%
Mexico	3.0		0.4	%
Other foreign jurisdictions	8.8		1.4	%
Effect of cross-border tax laws
Global intangible low taxed income (“GILTI”)	36.8		5.6	%
Foreign derived intangible income (“FDII”)	(8.7)		(1.3)	%
Loss from disregarded entity	(7.1)		(1.1)	%
Foreign exchange gain/(loss) on foreign remittances	(6.0)		(0.9)	%
Subpart F	4.4		0.7	%
Other	5.0		0.8	%
Tax credits
Foreign tax credit - GILTI basket	(26.1)		(4.0)	%
Foreign tax credit - general basket	(13.4)		(2.1)	%
Foreign tax credit - foreign branch basket	(7.2)		(1.1)	%
Research and development credit	(2.0)		(0.3)	%
Foreign tax credit - passive basket	(0.3)		—	%
Changes in valuation allowances	(0.4)		(0.1)	%
Nontaxable or nondeductible items	(0.5)		(0.1)	%
Changes in unrecognized tax benefits	3.6		0.5	%
Other adjustments
Other	3.3		0.5	%
Effective tax rate	$	160.1	24.6	%