XML 34 R21.htm IDEA: XBRL DOCUMENT v3.24.3
Income Taxes
 9 Months Ended
Sep. 30, 2024
Income Tax Disclosure [Abstract]  
Income Taxes
The Company’s income tax provision on income before income taxes, including income (loss) from operating affiliates, resulted in an effective tax rate of 8.1% for the nine months ended September 30, 2024, compared to 8.8% for the nine months ended September 30, 2023. The Company’s effective tax rate, which is based upon the expected annual effective tax rate, may fluctuate from period to period based on the relative mix of income or loss reported by jurisdiction and the varying tax rates in each jurisdiction.
The Company had a net deferred tax asset of $1.5 billion at September 30, 2024, compared to a net deferred tax asset of $1.6 billion at December 31, 2023. In addition, the Company paid $221 million of income taxes for the nine months ended September 30, 2024, compared to $127 million of income taxes paid for the nine months ended September 30, 2023