Income Taxes (Tables)

6 Months Ended

Jun. 30, 2023

Income Tax Disclosure [Abstract]

Reconciliation between the U.S. federal statutory tax rate and effective tax rate

A reconciliation between the U.S. federal statutory tax rate and our effective tax rate is summarized as follows:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2023		2022		2023		2022
Statutory rate	21.0	%	21.0	%	21.0	%	21.0	%
State taxes	1.2		0.6		1.2		0.4
Taxes on foreign earnings	(4.7)		(3.8)		(5.0)		(5.3)
Tax credits	(2.0)		(1.4)		(3.7)		(1.6)
Purchased intangible assets	0.3		0.1		0.3		0.2
GILTI	0.2		0.2		0.3		0.2
Sale of Samsung Bioepis	—		(3.7)		—		(2.9)
Litigation settlement agreement	—		8.5		—		6.7
Neurimmune tax impacts	—		—		—		5.2
International reorganization	—		(4.0)		—		(3.1)
Other	0.2		(0.4)		0.3		0.4
Effective tax rate	16.2	%	17.1	%	14.4	%	21.2	%