Income Taxes

9 Months Ended

Sep. 30, 2024

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The calculation of our effective tax rate was as follows for the three and nine months ended September 30, 2024 and 2023 (in thousands, except percentages):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2024			2023			2024			2023
Income before income taxes	$	135,417		$	134,937		$	427,843		$	372,429
Income tax expense	$	28,823		$	29,363		$	92,243		$	79,894
Effective tax rate	21.3		%	21.8		%	21.6		%	21.5		%

For interim periods, our income tax expense and resulting effective tax rate are based upon an estimated annual effective tax rate adjusted for the effects of items required to be treated as discrete to the period, including changes in tax laws, changes in estimated exposures for uncertain tax positions, and other items.