Income Taxes

6 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

	Three Months Ended						Six Months Ended
	June 30, 2024			June 30, 2023			June 30, 2024			June 30, 2023
	(in thousands, except percentages)
Provision for income taxes	$	366,550		$	191,722		$	648,920		$	355,476
Effective tax rate	15		%	11		%	13		%	11		%

The effective tax rates for the three and six months ended June 30, 2024 differed from the Federal statutory rate primarily due to the foreign-derived intangible income deduction and excess tax benefits on stock-based compensation.