Income Taxes

6 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes (in thousands, except percentages)

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Income before income taxes	$	770,436		$	586,401		$	1,493,197		$	1,083,125
Provision for income taxes	105,008			94,516			$	190,077		154,767
Effective tax rate	13.6		%	16.1		%	12.7		%	14.3		%

    The decrease in the effective tax rates in the three and six months ended June 30, 2024, as compared to the same periods in 2023, was primarily due to an increase in tax benefits attributable to stock-based compensation.