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Income Taxes
9 Months Ended
Sep. 30, 2024
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The income tax provision was $32.3 million for the three-month period ended September 30, 2024, as compared to $26.7 million for the same period in 2023. The increase in the income tax provision was primarily due to an increase in U.S. income
tax resulting from increased U.S. income. The effective tax rate was 26.3% for the three-month period ended September 30, 2024, as compared to 26.5% for the same period in 2023.
The income tax provision was $84.7 million for the nine-month period ended September 30, 2024, as compared to $75.3 million for the same period in 2023. The increase in the income tax provision was primarily due to an increase in U.S. income tax resulting from increased U.S. income. The effective tax rate was 31.5% for the nine-month period ended September 30, 2024, as compared to 25.6% for the same period in 2023. The increase in the effective tax rate was primarily the result of a valuation allowance on foreign deferred tax assets and the impairment of a foreign indefinite-lived intangible asset.