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INCOME TAXES (Tables)

6 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the provision for income taxes using the statutory federal income tax rate to our effective income tax rate is as follows below. The three and six months ended June 30, 2023, have been adjusted to conform to the current year presentation.

			Three Months Ended June 30,												Six Months Ended June 30,
			2024						2023						2024						2023
Federal statutory rate			21.0		%				21.0		%				21.0		%				21.0		%
State income taxes, net of federal benefit			2.0						2.4						2.3						2.3
Share based payment awards			(0.5)						(1.0)						(0.7)						(3.5)
Foreign tax credits			(1.4)						(6.2)						(1.6)						(3.3)
Other U.S. tax credits and incentives			(5.0)						(3.9)						(6.2)						(3.9)
Foreign tax rate differential			2.7						0.6						1.8						(0.3)
Section 162(m) limitation on compensation			0.8						0.7						1.0						0.9
Other			(0.2)						1.3						0.3						0.9
Effective income tax rate			19.4		%				14.9		%				17.9		%				14.1		%

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- References

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

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