Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Reconciliation of Total Provision for Income Taxes with Amounts Computed at Federal Tax Rate of 35%

The following table reconciles the statutory federal tax rate with the effective tax rate for the periods presented below.

TABLE 87: INCOME TAXES

	FOR THE YEAR ENDED DECEMBER 31,
($ In Millions)	2025		2025		2024		2024		2023		2023
Statutory Federal Tax Rate	$	491.3	21.0	%	$	558.5	21.0	%	$	307.6	21.0	%
Tax Credits	(7.2)		(0.3)		(8.9)		(0.3)		(4.4)		(0.3)
Tax Credit Investments, Net (1)	(15.5)		(0.7)		(17.9)		(0.7)		(37.5)		(2.6)
Nontaxable or Nondeductible Tax Benefits	1.0		—		(7.0)		(0.3)		(3.0)		(0.2)
Effects of Cross-Border Tax Laws	13.6		0.6		10.1		0.4		10.9		0.7
Valuation Allowance	59.8		2.6		36.7		1.4		25.8		1.8
Other, net	0.8		—		(11.5)		(0.4)		(4.5)		(0.3)
Domestic State and Local Income Taxes, net (2)	38.8		1.7		65.1		2.4		34.9		2.4
Foreign Tax Effects	21.1		0.9		5.5		0.2		7.7		0.5
Worldwide Changes in Unrecognized Tax Benefits	(1.1)		—		(2.2)		(0.1)		20.0		1.4
Effective Tax Rate	$	602.6	25.8	%	$	628.4	23.6	%	$	357.5	24.4	%

(1) Tax Credit Investments, Net includes Low Income Housing Tax Credits and New Market Tax Credits net of proportional amortization starting in 2024. Refer to Note 28, “Variable Interest Entities” for further information.

(2) State and local income taxes in Illinois, New York, and California comprise the majority of the Domestic State and Local Taxes, net category.

Schedule of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits

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

TABLE 88: UNRECOGNIZED TAX BENEFITS

(In Millions)	2025		2024		2023
Balance at January 1	$	58.5	$	60.7	$	40.7
Additions for Tax Positions Taken in the Current Year	2.5		2.0		2.1
Additions for Tax Positions Taken in Prior Years	7.1		10.8		24.0
Reductions for Tax Positions Taken in Prior Years	(6.0)		(10.9)		(5.1)
Reductions Resulting from Settlements with Taxing Authorities	(4.7)		(2.5)		—
Reductions Resulting from Expiration of Statutes	—		(1.6)		(1.0)
Balance at December 31	$	57.4	$	58.5	$	60.7

Schedule of Components of Consolidated Provision for Income Taxes

The components of the consolidated Provision for Income Taxes for each of the three years ended December 31 are as follows.

TABLE 89: PROVISION FOR INCOME TAXES (1)

	FOR THE YEAR ENDED DECEMBER 31,
(In Millions)	2025		2024		2023
Current Tax Provision:
Federal	$	184.6	$	400.2	$	250.5
State	23.7		66.7		63.2
Non-U.S.	199.8		140.8		92.0
Total	$	408.1	$	607.7	$	405.7
Deferred Tax Provision:
Federal	$	159.9	$	(1.1)	$	(54.0)
State	34.0		17.5		(1.4)
Non-U.S.	0.6		4.3		7.2
Total	$	194.5	$	20.7	$	(48.2)
Provision for Income Taxes
Federal	$	344.5	$	399.1	$	196.5
State	57.7		84.2		61.8
Non-U.S.	200.4		145.1		99.2
Grand Total	$	602.6	$	628.4	$	357.5

(1) Refer to Note 31, “Reporting Segments and Related Information” for Income Before Income Taxes disaggregation.

Schedule of Tax Charges (Benefits) Recorded Directly to Stockholders' Equity

In addition to the amounts shown above, tax charges (benefits) have been recorded directly to Stockholders’ Equity for the following. For further detail, refer to Note 14, “Accumulated Other Comprehensive Income (Loss).”

TABLE 90: TAX CHARGES (BENEFITS) RECORDED DIRECTLY TO STOCKHOLDERS’ EQUITY

	FOR THE YEAR ENDED DECEMBER 31,
(In Millions)	2025		2024		2023
Tax Effect of Other Comprehensive Income	$	5.0	$	156.5	$	120.2

Schedule of Income Taxes Paid, Net

The components of Income Taxes Paid for each of the three years ended December 31 are as follows.

TABLE 91: INCOME TAXES PAID(1)

	FOR THE YEAR ENDED DECEMBER 31,
(In Millions)	2025		2024		2023
US Federal	$	169.3	$	97.9	$	173.2
US State and Local
Illinois	*		21.7		42.0
New Jersey	*		(17.6)		*
Other	38.7		35.1		41.8
Total US State and Local	$	38.7	$	39.2	$	83.8
Foreign
United Kingdom	122.6		43.4		43.2
Australia	25.2		*		*
Luxembourg	*		32.3		*
India	*		18.3		*
Other	71.0		37.5		62.3
Total Foreign	$	218.8	$	131.5	$	105.5
Total Income Taxes Paid	$	426.8	$	268.6	$	362.5

(1) Income Taxes Paid (net of refunds received) are based on earnings and current tax liabilities which vary year-over-year by jurisdiction and in total. Payments (net of refunds) in a given year and by jurisdiction may also be impacted by the timing of final settlements with tax authorities and non-recurring items, such as refund claims, that may relate to prior years limiting comparability between years.

* The amount of income taxes paid during the year does not meet the 5% disaggregation threshold.

Schedule of Deferred Tax Liabilities and Assets

Deferred tax assets and liabilities have been computed as follows.

TABLE 92: DEFERRED TAX ASSETS AND LIABILITIES

	DECEMBER 31,
(In Millions)	2025		2024
Deferred Tax Liabilities:
Software Development	$	423.6	$	419.9
Compensation and Benefits	61.0		9.5
State Taxes, net	74.1		46.7
Other Liabilities	108.9		85.2
Gross Deferred Tax Liabilities	$	667.6	$	561.3
Deferred Tax Assets:
Depreciation and Amortization	39.7		38.4
Allowance for Credit Losses	41.5		43.2
Unrealized Losses on Securities, net	73.7		143.3
Tax Credit and Loss Carryforwards	217.7		157.9
Other Assets	94.0		117.2
Gross Deferred Tax Assets	$	466.6	$	500.0
Valuation Reserve	(217.7)		(157.9)
Deferred Tax Assets, net of Valuation Reserve	248.9		342.1
Net Deferred Tax Assets (Liabilities)	$	(418.7)	$	(219.2)