Income Taxes

3 Months Ended

Mar. 31, 2024

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 18 — Income Taxes

The effective tax rates for the three months ended March 31, 2024 and March 31, 2023 are as follows:

	Three Months Ended
	March 31,			March 31,
	2024			2023
Effective tax rate		18.6	%		19.2	%

The decrease in the effective income tax rate is primarily attributed to tax benefits recorded from a change in the mix of earnings by jurisdiction and a decrease in the impact of foreign withholding taxes. The first quarter 2024 and 2023 effective income tax rates were lower than the U.S. statutory federal income tax rate primarily due to tax benefits recorded upon vesting of RSUs.