Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Note 10. Income Taxes For the three months ended June 30, 2026 and 2025, the Company recorded income tax expense of $8,157 and $7,227, respectively, representing an effective tax rate of 26.0% and 25.0%, respectively. The Company's estimated annual effective tax rate differs from the statutory federal tax rate due to state and foreign income taxes, permanent differences related to non-deductible expenses, and tax-exempt items. The change in effective tax rate primarily reflects permanent differences related to non-deductible executive compensation. For the six months ended June 30, 2026 and 2025, the Company recorded income tax expense of $15,338 and $13,471, respectively, representing an effective tax rate of 26.0% and 25.4%, respectively. The Company's estimated annual effective tax rate differs from the U.S. federal statutory income tax rate primarily due to the impact of state and foreign income taxes, permanent differences related to non-deductible expenses, and tax-exempt items. The period-over-period change in the effective tax rate was primarily driven by permanent differences related to non-deductible executive compensation. The Company evaluates the realizability of deferred tax assets on a quarterly basis and records a valuation allowance when it is more likely than not that some portion or all of the deferred tax assets will not be realized. In assessing the need for a valuation allowance, management considers all positive and negative evidence, including recent operating results, available tax planning strategies, and forecasted future taxable income. The Company maintained a valuation allowance of $1,208 related to certain deferred tax assets as of June 30, 2026 and December 31, 2025, as it is more likely than not that such assets will not be realized. |