XML 31 R20.htm IDEA: XBRL DOCUMENT v3.25.2
Income Taxes
6 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes:
The effective income tax rates for the three-month and six-month periods ended June 30, 2025 were (380.0)% and (107.8)%, respectively, compared to 6.2% and 5.2% for the three-month and six-month periods ended June 30, 2024, respectively. The Company’s effective income tax rate fluctuates based on, among other factors, the amount and location of income. The decreased effective tax rate in the three-month and six-month periods ended June 30, 2025, compared to the three-month and six-month periods ended June 30, 2024, was due to the impact of 2025 earnings in various jurisdictions. The difference between the U.S. federal statutory income tax rate of 21% and Company’s effective income tax rate for the three-month and six-month periods ended June 30, 2025 was due to the net impact of the location in which income was earned, including the impact of valuation allowances for losses in the Company’s consolidated Australian entities and certain entities in China. The difference between the U.S. federal statutory income tax rate of 21% and the Company’s effective income tax rate for the three-month and six-month periods ended June 30, 2024 was impacted by a variety of factors, primarily the location in which income was earned, including the valuation allowance for losses in certain entities in China, and an uncertain tax position recorded in Chile.