The provision for income taxes includes U.S. federal, state, local and foreign taxes. A reconciliation of the Company’s statutory federal income tax rate to the effective income tax rate is summarized in the following table:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2026			2025			2026		2025
U.S. federal statutory tax rate	21.0	%		21.0	%		21.0	%	21.0	%
State and local income taxes, net of federal benefit	3.0			2.8			3.0		2.9
Nontaxable or nondeductible items:
Nondeductible executive compensation	2.0			0.8			1.6		1.7
Excess tax deficiencies (benefits) related to the vesting and delivery of restricted stock units	—		*	—		*	0.5		(2.1)
Valuation allowance	0.1			0.1			(0.3)		(0.1)
Changes in unrecognized tax benefits	0.1			(0.5)			0.1		(0.5)
Effect of cross-border tax laws	0.1			0.2			0.1		0.1
Foreign tax effects	0.1			(0.4)			0.1		(0.3)

Other	—		*	1.0			0.1		0.4
Effective income tax rate	26.4	%		25.0	%		26.2	%	23.1	%