Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | 6. Income Taxes The effective income tax rates on continuing operations for the six months ended June 30, 2025 and 2024 were 26.8% and 36.1%, respectively. In general, the effective tax rates differed from the U.S. federal statutory income tax rate primarily due to state income taxes, non-deductible expenses such as those related to certain executive compensation, and discrete tax expenses related to stock option exercises during the period. The year-to-date provision for income taxes for the six months ended June 30, 2025 included taxes on earnings at an anticipated annual effective tax rate of 25.3% and a net, unfavorable tax impact of $1,095 related primarily to discrete tax expense originating from stock options exercised during the six months ended June 30, 2025. The year-to-date provision for income taxes for the six months ended June 30, 2024 included taxes on earnings at an anticipated annual effective tax rate of 25.5% and a net, unfavorable tax impact of $6,399 related primarily to discrete tax expense originating from stock options exercised during the six months ended June 30, 2024. On July 4, 2025, the "One Big Beautiful Bill Act” (the "OBBBA") was signed into law. The OBBBA includes a broad range of tax reform provisions, such as the permanent extension of certain expiring provisions of the 2017 Tax Cuts and Jobs Act (“TCJA”), and the restoration of favorable tax treatment for certain business provisions. The legislation has multiple effective dates, with certain provisions effective for the 2025 tax year and others being implemented through 2027. We are currently evaluating the impact of the OBBBA, including the extension of TCJA provisions, on our consolidated financial statements. For the six months ended June 30, 2025 and 2024, we recorded $44 and $219 related to unrecognized tax benefits or interest and penalties related to any uncertain tax positions. |