INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of Income (Loss) Before Income Taxes

The components of income before income taxes were as follows:


For the years ended December 31,	2025		2024		2023
Domestic	$	1,160,843	$	1,796,428	$	1,832,771
Foreign	53,365		677,508		339,093
Income before income taxes	$	1,214,208	$	2,473,936	$	2,171,864

Schedule of Components of Income Tax Expense (Benefit)

The components of our provision for income taxes were as follows:


For the years ended December 31,	2025		2024		2023
Current:
Federal	$	81,916	$	23,345	$	141,753
State	39,312		85,746		83,802
Foreign	87,428		70,371		68,289
	208,656		179,462		293,844
Deferred:
Federal	117,363		21,223		28,191
State	27,142		3,616		(9,531)
Foreign	(22,212)		48,396		(2,427)
	122,293		73,235		16,233
Total provision for income taxes	$	330,949	$	252,697	$	310,077

Schedule of Deferred Tax Asset and Liabilities


December 31,	2025		2024
Deferred tax assets:
Post-retirement benefit obligations	$	26,692	$	23,503
Accrued expenses and other reserves	99,106		83,263
Stock-based compensation	15,986		16,656


Lease liabilities	95,415		98,915
Accrued trade promotion reserves	20,890		18,706
Net operating loss carryforwards	134,203		98,159
Capital loss carryforwards	8,453		8,002

Other	54,258		87,525
Gross deferred tax assets	455,003		434,729
Valuation allowance	(145,052)		(117,239)
Total deferred tax assets	309,951		317,490
Deferred tax liabilities:
Property, plant and equipment, net	334,995		295,911
Acquired intangibles	418,073		254,884
Lease ROU assets	74,448		78,852
Inventories	22,828		10,736
Derivative instruments	7,363		37,558
Pension	13,965		8,440
Other	90,017		18,287
Total deferred tax liabilities	961,689		704,668
Net deferred tax liabilities	$	(651,738)	$	(387,178)
Included in:
Non-current deferred tax assets, net	$	27,802	$	37,065
Non-current deferred tax liabilities, net	(679,540)		(424,243)
Net deferred tax liabilities	$	(651,738)	$	(387,178)

Schedule of Effective Income Tax Rate Reconciliation

The following table presents the updated requirements of ASU 2023-09 for 2025 and reconciles the federal statutory income tax rate with our effective income tax rate:


For the year ended December 31,	2025
	Amount ($)		Percent (%)
Federal statutory income tax rate	$	254,984	21.0	%
Effect of cross-border tax laws
Foreign branch	(22,863)		(1.9)
Other	4,660		0.4
Domestic federal
Tax credits
Solar income tax credit investments	(29,116)		(2.4)
Other	(1,864)		(0.2)
Changes in valuation allowances	(8,102)		(0.7)
Non-taxable or non-deductible items	6,020		0.5

Other, net	(3,786)		(0.3)
State and local income taxes, net of federal income tax effect (1)	49,658		4.1
Foreign tax effects
Brazil
Changes in valuation allowance	28,842		2.4
Other	(3,140)		(0.3)
Mexico
Transfer pricing reimbursement	(15,343)		(1.3)
Other	11,161		1.0
Switzerland
Other income-based taxes	13,381		1.1
Other	(14,911)		(1.2)
Other foreign jurisdictions	2,911		0.3
Worldwide changes in unrecognized tax benefits	58,457		4.8

Effective income tax rate	$	330,949	27.3	%

(1) During the year ended December 31, 2025, state taxes in Pennsylvania, California, Indiana, and Illinois made up the majority (greater than 50%) of the tax effect in this category.

As previously disclosed for the years ended December 31, 2024 and 2023, prior to the adoption of ASU 2023-09, the following table reconciles the federal statutory income tax rate with our effective income tax rate:


For the years ended December 31,	2024		2023
Federal statutory income tax rate	21.0	%	21.0	%
Increase (reduction) resulting from:
State income taxes, net of Federal income tax benefits	2.4		2.8


Foreign rate differences	(1.2)		(1.0)
Historic and solar tax credits	(9.4)		(9.5)

Tax contingencies	(1.6)		1.1
Stock compensation	(0.2)		(0.5)

Other, net	(0.8)		0.4
Effective income tax rate	10.2	%	14.3	%

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:


December 31,	2025		2024
Balance at beginning of year	$	117,578	$	149,625
Additions for tax positions taken during prior years	12,867		7,207
Reductions for tax positions taken during prior years	(6,845)		(4,913)
Additions for tax positions taken during the current year	28,440		9,339
Settlements	(23,344)		(201)
Expiration of statutes of limitations	(900)		(43,479)
Balance at end of year	$	127,796	$	117,578

Schedule of Cash Taxes Paid

Cash taxes paid for prior periods are presented as a supplemental disclosure in the Consolidated Statements of Cash Flows:


For the year ended December 31,	2025
U.S. Federal	$	20,013
U.S. State & Local
Pennsylvania	7,589
Other	37,167
	44,756
Foreign
Mexico	44,039
Switzerland	24,693
Other	7,115
	75,847
Total cash paid for income taxes	$	140,616