Income Taxes |
6 Months Ended |
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Jun. 30, 2025 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes On a continuing operations basis, the effective tax rates for the Company were 26.1% and 24.1% for the three months ended June 30, 2025 and June 30, 2024, respectively. On a continuing operating basis, the effective tax rates for the Company were 23.0% and 22.9% for the six months ended June 30, 2025 and 2024, respectively. Restricted stock vestings favorably impacted the effective tax rate for the three and six months ended June 30, 2025 and 2024. In addition, the effective tax rate in each period was unfavorably impacted by deduction limitations on executive officer compensation. One Big Beautiful Bill Act On July 4, 2025, the “One Big Beautiful Bill Act” (the “Act”) was enacted into law. The Act includes changes to U.S. tax law that will be applicable to the Company beginning in tax year 2025. These changes include modifications to capitalization of research and development expenses, limitations on deductions for interest expense and accelerated fixed asset depreciation. The Company is in the process of evaluating the impact of the Act.
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