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Income Taxes
 9 Months Ended
Sep. 30, 2024
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company’s provision for income taxes is based upon estimated annual tax rates for the year applied to federal income as well as state and foreign income in various jurisdictions, permanent differences between book and tax items, tax credits and the Company’s change in relative income in each jurisdiction. The provision for income taxes and the effective tax rates for the periods presented were as follows:

Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Income before income taxes$154.4 $261.8 $488.1 $620.1 
Provision for income taxes35.5 52.8 106.7 132.8 
Effective tax rate22.9 %20.2 %21.9 %21.4 %
The three months ended September 30, 2024 had no material discrete tax items impacting the effective tax rate. The nine months ended September 30, 2024 benefited from the finalization of prior years’ research and development tax incentives with taxing authorities in a foreign jurisdiction and the finalization of tax impacts of a previously recorded legal entity restructuring. Both the three and nine months ended September 30, 2023 benefited from the finalization of the impact of research expenditure capitalization on the foreign derived intangible income deduction and the reduction of Global Intangible Low-Tax Income as a result of the tax amortization of goodwill related to the acquisition of Muon B.V. and its subsidiaries.