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Income Taxes
 9 Months Ended
Sep. 30, 2024
Income Tax Disclosure [Abstract]  
Income Taxes
(11)
Income Taxes

The Company’s effective tax rates for the three and nine months ended September 30, 2024 were (4.0)% and 1.2% respectively. The Company’s effective tax rates for the three and nine months ended September 30, 2024 were lower than the U.S. statutory tax rate primarily due to the tax benefit related to the Company’s earnings mix, an increase in the U.S. deduction for foreign derived intangible income (“FDII”) and a one-time increase in research and development tax credits due to the filing of prior year amended returns for 2020 and 2021, partially offset by an expected increase in foreign withholding taxes and a waiver of deductions related to U.S. base erosion payments.

The Company’s effective tax rates for the three and nine months ended September 30, 2023 were (75.3%) and 4.1%, respectively. The Company’s effective tax rate for the three months ended September 30, 2023 was lower than the U.S. statutory tax rate primarily due to the U.S. deduction for FDII and various tax credits. The Company’s effective tax rate for the nine months ended September 30, 2023 was lower than the U.S. statutory tax rate primarily due to the tax benefit related to the impairment of intangible assets and the aforementioned tax credits.