Income Taxes

6 Months Ended

Jun. 30, 2025

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The effective income tax rate on continuing operations for the six months ended June 30, 2025, was 20.7%. The year-to-date provision for income taxes included taxes on earnings at an anticipated rate of 23.2% and a tax benefit of $12.6 million of discrete activity primarily related to excess tax benefits from stock compensation and reduced prior year tax liabilities.

The effective income tax rate on continuing operations for the six months ended June 30, 2024, was 22.4%.

Subsequent Event

On July 4, 2025, the U.S. federal government enacted legislation commonly referred to as the One Big Beautiful Bill Act. This legislation includes significant tax law changes affecting corporations. The Company continues to assess the effects of this new legislation but does not expect it to materially affect the Company’s financial position or results of operations.