Income Taxes

9 Months Ended

Sep. 30, 2025

Income Tax Disclosure [Abstract]

Income Taxes

NOTE H - Income Taxes

The effective tax rate for the third quarter of 2025 was 20.7% compared to 22.6% for the third quarter of 2024, primarily driven by higher U.S. Federal research and development (R&D) tax credits. The effective tax rate for the first nine months of 2025 was 21.6% compared to 22.6% for the first nine months of 2024, reflecting the European Commission (EC) claims charge and its associated tax benefit.