Quarterly report pursuant to Section 13 or 15(d)

Income Taxes

v3.23.3
Income Taxes
 9 Months Ended
Sep. 30, 2023
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The calculation of our effective tax rate is as follows for the three and nine months ended September 30, 2023 and 2022 (in thousands, except percentages):
Three Months Ended
September 30,		 Nine Months Ended
September 30,
2023 2022 2023 2022
Income before income taxes $ 134,937  $ 163,975  $ 372,429  $ 440,702 
Income tax expense $ 29,363  $ 34,138  $ 79,894  $ 94,071 
Effective tax rate 21.8  % 20.8  % 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.