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Income Taxes
3 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The calculation of the effective tax rate is as follows (in thousands):
 Three months ended December 31,
 20242023
Income before income taxes$39,437 $29,878 
Income tax provision4,674 5,793 
Net income$34,763 $24,085 
Effective tax rate12 %19 %
Our income tax provision reflects an effective tax rate on pre-tax income of 12% for the three months ended December 31, 2024 compared to 19% for the three months ended December 31, 2023. The effective tax rates for the first quarter of Fiscal 2025 and Fiscal 2024 were favorably impacted by discrete items related to the vesting of RSUs and the estimated Research and Development (R&D) Tax Credit, which were partially offset by the tax expense related to certain nondeductible items. In addition, the favorable tax impact in the first quarter of Fiscal 2024 was partially offset by an income inclusion related to U.S. global intangible income.