Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | 12. Income Taxes At the end of each quarter, the Company makes an estimate of its annual effective income tax rate. The estimate used in the year-to-date period may change in subsequent periods. During the three months ended June 30, 2025 and 2024, the effective income tax rates were 19.8% and 22.9%, respectively. The 2025 effective tax rate decreased when compared to 2024, primarily due to the discrete impact of excess tax benefits associated with share-based payments. During the six months ended June 30, 2025 and 2024, the effective income tax rates were 21.0% and 26.9%, respectively. The decrease in the effective tax rate was primarily due to a decrease in the valuation allowance against the Company's deferred tax asset for its disallowed interest carryforward and the discrete impact of excess tax benefits associated with share-based payments during 2025. |