Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Taxes

For the years ended December 31, income before income taxes consisted of the following: 

In millions	2025		2024		2023
Income before income taxes
United States	$	44	$	58	$	35
Foreign	134		106		82
Total income before income taxes	$	178	$	164	$	117

Schedule of Income Tax Expense

For the years ended December 31, income tax expense consisted of the following:

In millions	2025			2024			2023
Income tax expense
Current
Federal	$	(6)		$	32		$	25
State and local	1			5			5
Foreign	22			24			36
Deferred
Federal	21			(9)			(12)
State and local	3			(2)			(2)
Foreign	7			—			3
Total income tax expense	$	48		$	50		$	55
Effective income tax rate	27.0		%	30.5		%	47.0		%

Schedule of Difference Between the Effective Tax Rate and the U.S. Federal Statutory Income Tax Rate

The following table presents the principal components, (on a prospective basis, as enhanced by ASU No. 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures), of the difference between the effective tax rate and the United States federal statutory income tax rate for the years ended December 31:

	2025		2025
(amounts in millions)	Amount		%
Income tax expense at the U.S. federal tax rate	$	37	21.0	%
Foreign tax effects
Ireland
Statutory tax rate difference between Ireland and U.S.	(8)		(4.5)	%
Argentina
Statutory tax rate difference between Argentina and U.S.	1		0.6	%
Permanent Tax Benefit for Hyperinflationary Adjustment	(4)		(2.4)	%
Valuation Allowance Offset	4		2.2%
Withholding Tax for Ireland	3		1.7%
Other foreign jurisdictions	7		3.9	%
Effect of Cross Border Tax Laws
GILTI Tax	2		1.1	%
Subpart F Income	3		1.7	%
Foreign Tax Credits	(5)		(2.8)	%
Incremental US Tax on US Branches	2		1.1	%
State and local income taxes, net of federal benefits (a)	2		1.1	%
Non-Taxable or Non-Deductible Items
Share-Based Payment Awards	15		8.4	%
Tax Credits
US Research & Development Tax Credits	(5)		(2.8)	%
US Investment Tax Credit	(5)		(2.8)	%
Change in valuation allowance	5		2.8	%
Changes in unrecognized tax positions	(6)		(3.3)	%
Effective income tax rate	$	48	27.0	%

    

(a) State taxes in Arizona, California, Minnesota, Illinois, New Jersey, North Carolina, Rhode Island and Texas made up the majority (greater than 50 percent) of the tax effect in this category.

The following table presents the principal components, (as reported in prior years), of the difference between the effective tax rate and the United States federal statutory income tax rate for the years ended December 31:

	2024		2023
Income tax expense at the U.S. federal tax rate	21.0	%	21.0	%
Foreign income tax differential	(3.2)	%	1.5	%
U.S. tax on foreign earnings	(0.7)	%	(1.7)	%
State and local income taxes	(1.3)	%	(3.2)	%
U.S. permanent book/tax differences	1.8	%	3.7	%
U.S. research and development tax credits	(4.2)	%	(6.1)	%
Change in valuation allowance	10.7	%	18.6	%
Argentina hyperinflationary adjustment	—	%	13.1	%
Tax impact of stock compensation	4.3	%	1.7	%
Tax impact of uncertain tax positions	2.1	%	(0.8)	%
Other, net	—	%	(0.8)	%
Effective income tax rate	30.5	%	47.0	%

Schedule of Deferred Income Tax Assets and Liabilities

Deferred income tax assets and liabilities included in the balance sheets at December 31 were as follows:

In millions	2025		2024
Deferred income tax assets
Employee pensions and other liabilities	$	42	$	41
Other balance sheet reserves and allowances	30		29
Operating lease liabilities	2		2
Tax loss and credit carryforwards	133		115
Deferred revenue	3		3
Intangibles and capitalized software	161		184
Total deferred income tax assets	371		374
Valuation allowance	(110)		(101)
Net deferred income tax assets	261		273
Deferred income tax liabilities
Right of use assets - operating lease	2		2
Property and equipment	30		24
Other	32		31
Total deferred income tax liabilities	64		57
Total net deferred income tax assets	$	197	$	216

Schedule of Unrecognized Tax Benefits Roll Forward

Below is a roll-forward of the Company’s liability related to uncertain tax positions at December 31:

In millions	2025		2024
Balance at January 1	$	44	$	40
Gross increases for prior period tax positions	1		1
Gross increases for current period tax positions	3		3
Decreases due to the lapse of applicable statute of limitations	(2)		—
Decreases relating to settlements with taxing authorities	(8)		—
Balance at December 31	$	38	$	44

Schedule of Income Taxes (Net of Refunds Received)

For the year ended December 31, 2025, the Company paid the following income taxes (net of refunds received), disaggregated by jurisdiction:

In millions	2025
Income tax paid (net of refunds received)
Domestic
Federal	$	43
State and local	4
Foreign
Ireland	7
Other	17
Total income tax paid (net of refunds received)	$	71