Income Taxes

9 Months Ended

Sep. 30, 2024

Income Taxes

Income Taxes

Note 17—Income Taxes

The Company’s effective income tax rates were 26.1% and 26.8% for the quarters ended September 30, 2024 and 2023, respectively, and 23.8% and 23.7% for the nine months ended September 30, 2024 and 2023, respectively. The decrease in the effective tax rate for the quarter ended September 30, 2024 compared to the same period in 2023 is attributable to an increase in tax deductions realized for stock options exercised in the quarter ended September 30, 2024.