Income Taxes

3 Months Ended

Mar. 31, 2024

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The following table summarizes the Company’s provision for income taxes and effective income tax provision rate for the three month periods ended March 31, 2024 and 2023.

	For the Three Month Period Ended March 31,
	2024			2023
Income before income taxes	$	269.6		$	211.0
Provision for income taxes	$	54.4		$	48.1
Effective income tax provision rate	20.2		%	22.8		%

The increase in the provision for income taxes and decrease in the effective income tax provision rate for the three month period ended March 31, 2024 when compared to the same three month period of 2023. The increase in the provision for income taxes is primarily due to an increase in the pretax book income. The decrease in the effective income tax provision rate is primarily due to the additional benefit of a windfall tax deduction during the first quarter of 2024, partially offset by an increase in the pretax book income in jurisdictions with higher effective tax rates.