Income Taxes |
6 Months Ended |
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Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes The U.S. federal statutory tax rate was 21% for each of the three and six months ended June 30, 2026 and 2025. The Company’s effective tax rate for the three and six months ended June 30, 2026 was 25.7% and 26.3%, respectively, of pretax income compared to the effective tax rate for the three and six months ended June 30, 2025 of 29.2% and 29.1%, respectively. The difference between the U.S. federal statutory tax rate and the Company’s effective tax rates for the three and six months ended June 30, 2026 was primarily due to state income taxes and the impact of the net CFC tested income (“NCTI”) and other permanent difference items, partially offset by a favorable impact from stock compensation excess tax benefits. The difference between the U.S. federal statutory tax rate and the Company’s effective tax rates for the three and six months ended June 30, 2025 was primarily due to permanent difference items and state income taxes. The Company has recorded a liability for unrecognized tax benefits of approximately $0.5 million and $0.4 million as of June 30, 2026 and December 31, 2025, respectively, which were included in other liabilities in the accompanying consolidated balance sheets. The Company’s policy is to recognize interest and penalties related to income tax liabilities as a component of income tax expense in the consolidated statements of operations. The amount of interest and penalties charged to income tax expense related to unrecognized tax benefits was not significant for the three and six months ended June 30, 2026 and 2025. The Company is subject to taxation in various jurisdictions. The Company’s 2021 through 2024 tax returns are subject to examination by U.S. federal authorities. The Company’s tax returns are subject to examination by various state authorities for the years 2021 through 2025. The Company’s 2021 through 2025 Canadian tax returns are subject to examination by the Canadian Revenue Agency.
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