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INCOME TAXES
 6 Months Ended
Jun. 30, 2026
Income Tax Disclosure [Abstract]  
INCOME TAXES
12.INCOME TAXES
The Company and its subsidiaries are based in the U.S. and file federal and various state income tax returns. The components of the provision for income taxes were as follows:
Three Months Ended June 30,Six Months Ended June 30,
(In thousands)2026202520262025
Current federal tax expense$35,497 $16,861 $59,829 $27,779 
Current state tax expense11,471 5,737 18,903 9,249 
Deferred federal tax expense4,032 4,260 6,014 4,696 
Deferred state tax (benefit) expense324 504 251 718 
Income tax expense$51,324 $27,362 $84,997 $42,442 
Cash paid (received) for income taxes$68,771 $33,605 $68,771 $33,566 
The effective income tax rate for the three and six months ended June 30, 2026 was 23.3% and 23.8%, respectively. The rate varied from the statutory rate primarily as a result of non-deductible compensation, state income taxes, and other permanent
differences. The Company incurred an approximately $1.3 million and $2.2 million tax benefit for the three and six months ended June 30, 2026, respectively, for increased tax deductions related to stock compensation.
The Company's U.S. federal and state income tax returns for 2023 and later are open and subject to examination. Additionally, the federal and state net operating loss (“NOL”) may be adjusted by the taxing authorities for the 2014 and later tax years.
Uncertain Tax Positions (“UTP”)—The Company has a UTP liability of $2.5 million and an additional liability related to the UTP for penalties of $504 thousand and interest of $570 thousand at June 30, 2026. We recognize interest and penalties related to the UTP as interest and administrative expense, respectively. The UTP, including penalties and interest, is fully offset by an indemnification receivable at June 30, 2026. The Company relieved $2.7 million of the recorded UTP in the six months ended June 30, 2026, with no material impact to the Condensed Consolidated Statement of Operations due to the associated indemnification receivable.