Income Taxes

9 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes (in thousands, except percentages)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2023			2022			2023			2022
Income before income taxes	$	644,510		$	424,164		$	1,727,635		$	1,095,951
Provision for income taxes	99,183			70,165			$	253,950		170,594
Effective tax rate	15.4		%	16.5		%	14.7		%	15.6		%

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