Income Taxes

9 Months Ended

Sep. 30, 2024

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

During the nine months ended September 30, 2023 and 2024, the Company recorded income tax expense of $14.8 million and $36.2 million, respectively. Income tax expense for the nine months ended September 30, 2023 and 2024 include shortfall tax impacts of approximately $1.4 million and $1.2 million, respectively, related to share-based payment arrangements.

The Company had $0.9 million of unrecognized tax benefits as of December 31, 2023 and September 30, 2024. Interest and penalties, including those related to uncertain tax positions, are included in the provision for income taxes in the unaudited condensed consolidated statements of income.

The Company paid $35.6 million and $39.5 million in income taxes during the nine months ended September 30, 2023 and 2024, respectively.

The tax years since 2020 remain open for federal tax examination, the tax years since 2019 remain open to examination by certain states, and the tax years since 2018 remain open to examination by foreign taxing jurisdictions in which the Company is subject to taxation.