Income Taxes |
3 Months Ended |
|---|---|
Mar. 31, 2025 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes The Company’s income tax provision was $15.2 million and $10.7 million, which equates to an effective tax rate of 20.5% and 18.9%, for the three months ended March 31, 2025 and 2024, respectively. The Company follows the provisions of ASC 740, Income Taxes, regarding unrecognized tax benefits. At March 31, 2025 and December 31, 2024, the Company had no accrual for unrecognized tax benefits. As of March 31, 2025, the Company had no ongoing or pending federal examinations for prior years. The Company has outstanding federal income tax refund claims for the 2016 and 2018 tax years. Since the total amount of refund claims is equal to $10.0 million, which was classified within other current assets on the Company’s unaudited condensed consolidated balance sheet at March 31, 2025, the refund claims are subject to ongoing Joint Committee on Taxation reviews. As of March 31, 2025, the Company has accrued $0.2 million of interest income related to the refund claim, which has been included as part of the Company's income tax expense. The Company’s tax years from 2021 through 2023 remain open to examination by federal and state taxing authorities.
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