Income taxes

9 Months Ended

Sep. 30, 2024

Income Tax Disclosure [Abstract]

Income taxes

Income taxes

The effective income tax rate for the three and nine months ended September 30, 2024 was 30.7% and 31.8% respectively, compared with 36.2% and 35.5% for the three and nine months ended September 30, 2023 and reflects the Company's annual estimate of the statutory federal and state tax rates adjusted for certain discrete items. The effective tax rate for the third quarter of 2024 was impacted by permanent items and non-deductible losses in non-U.S. businesses.