Income Taxes and Uncertain Income Tax Positions

3 Months Ended

Mar. 31, 2024

Income Tax Disclosure [Abstract]

Income Taxes and Uncertain Income Tax Positions

Income Taxes

The Company’s effective tax rates for the three months ended March 31, 2024 and 2023 were 27.3% and 27.7%, respectively. The Company’s effective tax rate for the three months ended March 31, 2024 was largely driven by a mix of earnings and withholding taxes, offset by changes in uncertain tax positions. Comparatively, the effective tax rate for the first three months of 2023 was largely impacted by foreign tax inclusions, withholding taxes, and foreign tax credits, partially offset with changes in uncertain tax positions and favorable return to provision adjustments.