Income Taxes (Tables)

3 Months Ended

Mar. 31, 2024

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 March 31,
	2024		2023
Statutory rate	21.0	%	21.0	%
State taxes	1.5		1.3
Taxes on foreign earnings	(3.6)		(5.6)
Tax credits	(2.5)		(6.6)
Purchased intangible assets	1.3		0.4
GILTI	(2.6)		0.5
Other, including permanent items	0.3		0.6
Effective tax rate	15.4	%	11.6	%