Axalta Coating Systems Ltd.
For the period ended Mar 31, 2026. Filed Apr 30, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed Apr 30, 2026
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(9) INCOME TAXES
Our effective income tax rates for the three months ended March 31, 2026 and 2025 are as follows:
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Effective Tax Rate | 13.7% | 23.0% |
The lower effective tax rate for the three months ended March 31, 2026 was primarily due to the release of unrecognized tax benefits resulting from ongoing discussions with tax authorities in jurisdictions where we have open audits.
The effective tax rate for the three months ended March 31, 2026 differs from the Bermuda statutory rate due to various items that impacted the effective rate both favorably and unfavorably, including net favorable adjustments for decreases in unrecognized tax benefits. These adjustments were primarily offset by unfavorable impacts for earnings in jurisdictions where the statutory rate is higher than the Bermuda statutory rate, changes in the valuation allowance, and non-deductible expenses and interest.
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