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Income Taxes
 9 Months Ended
Sep. 30, 2023
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company’s provision for income taxes is based upon estimated annual tax rates for the year applied to federal, state and foreign income. The provision for income taxes and the effective tax rates were as follows:

Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
Provision for income taxes$52.8 $49.7 $132.8 $129.2 
Effective tax rate20.2 %21.8 %21.4 %22.1 %
The decrease in the effective tax rate for both the three and nine months ended September 30, 2023 is primarily due to the tax benefit related to the finalization of the impact of research expenditure capitalization on the foreign derived intangible income deduction and the reduction of Global Intangible Low-Tax Income (“GILTI”) as a result of the tax amortization of goodwill related to the Muon Group acquisition.