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INCOME TAXES
 9 Months Ended
Sep. 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 September 30,Nine Months Ended September 30,
(In thousands)2026202520262025
Current federal tax expense$54,671 $19,618 $114,500 $47,397 
Current state tax expense15,887 7,057 34,790 16,306 
Deferred federal tax expense4,790 5,343 10,804 10,039 
Deferred state tax (benefit) expense711 (1,501)962 (783)
Income tax expense$76,059 $30,517 $161,056 $72,959 
Cash paid for income taxes$51,043 $22,734 $119,814 $56,300 
The effective income tax rate for the three and nine months ended September 30, 2026 was 24.9% and 24.3%, 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 recognized tax benefits of $100 thousand and $2.3 million for the three and nine months ended September 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 Position (“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 $625 thousand at September 30, 2026. We recognize interest and penalties related to the UTP as interest expense and general and administrative expenses, respectively. The UTP, including penalties and interest, is fully offset by an indemnification receivable at September 30, 2026. The Company relieved $2.7 million of the recorded UTP in the nine months ended September 30, 2026, with no material impact to the Condensed Consolidated Statement of Operations due to the associated indemnification receivable.