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Income Taxes
 6 Months Ended
Jun. 30, 2024
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Income tax expense was $99 million and $91 million for the three months ended June 30, 2024 and 2023, respectively. The effective tax rate, expressed by calculating the income tax expense as a percentage of Income before income taxes, was 26.0% and 25.7% for the three months ended June 30, 2024 and 2023, respectively.
Income tax expense was $159 million and $157 million for the six months ended June 30, 2024 and 2023, respectively. The effective tax rate was 24.2% for both the six months ended June 30, 2024 and 2023.
The effective tax rate for both the three and six months ended June 30, 2024 and 2023 differed from the US federal statutory rate of 21.0% primarily due to state and local income taxes, partially offset by excess tax benefits on equity-based compensation.