Income Taxes

6 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

Income tax expense and the effective income tax rate were as follows:

	Three Months Ended September 30,						Six Months Ended September 30,
	2023			2022			2023			2022
Income tax expense	$	55,770		$	27,394		$	73,582		$	39,547
Effective income tax rate	23.8		%	21.2		%	23.3		%	21.3		%

The tax provisions during the three and six months ended September 30, 2023, and 2022 were computed using the estimated effective income tax rate applicable to each of the domestic and foreign taxable jurisdictions for the fiscal years ending March 31, 2024 (current fiscal year), and March 31, 2023, respectively, and were adjusted for discrete items that occurred within the periods presented above.

During the three and six months ended September 30, 2023, the net increase in the effective income tax rate, compared to the prior period, was primarily due to changes in the jurisdictional mix of worldwide income before income taxes, and slightly lower net discrete tax benefits.