Income Taxes

6 Months Ended

Jun. 30, 2023

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes (in thousands, except percentages)

	Three Months Ended June 30,						Six Months Ended June 30,
	2023			2022			2023			2022
Income before income taxes	$	586,401		$	362,320		$	1,083,125		$	671,787
Provision for income taxes	94,516			63,221			$	154,767		100,429
Effective tax rate	16.1		%	17.4		%	14.3		%	14.9		%

    The decrease in the effective tax rates in the three and six months ended June 30, 2023, as compared to the same periods in 2022, was primarily due to an increase in tax benefits attributable to stock-based compensation.