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Income Taxes
 9 Months Ended
Sep. 30, 2024
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Income tax expense was $111 million and $104 million for the three months ended September 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 24.8% for the three months ended September 30, 2024 and 2023, respectively.
Income tax expense was $270 million and $261 million for the nine months ended September 30, 2024 and 2023, respectively. The effective tax rate was 24.9% and 24.4% for the nine months ended September 30, 2024 and 2023, respectively.
The effective tax rate for both the three and nine months ended September 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.