Income Taxes

3 Months Ended

Mar. 31, 2024

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

	Three Months Ended
	March 31, 2024			March 31, 2023
	(in thousands, except percentages)
Provision for income taxes	$	282,370		$	163,754
Effective tax rate	11		%	11		%

The effective tax rate for the three months ended March 31, 2024 differed from the Federal statutory rate primarily due to the foreign-derived intangible income deduction and excess tax benefits on stock-based compensation.