Quarterly report pursuant to Section 13 or 15(d)

Income Taxes

v3.23.1
Income Taxes
 3 Months Ended
Mar. 31, 2023
Income Tax Disclosure [Abstract]  
Income Taxes Income TaxesThe calculation of our effective tax rate is as follows for the three months ended March 31, 2023 and 2022 (in thousands, except percentages):
Three Months Ended
March 31,
2023 2022
Income before income taxes $ 110,341  $ 124,389 
Income tax expense $ 23,773  $ 26,489 
Effective tax rate 21.5  % 21.3  %
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.