Income Taxes

3 Months Ended

Mar. 31, 2025

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

During the three months ended March 31, 2024 and 2025, the Company recorded income tax expense of $13.4 million and $12.3 million, respectively. Income tax expense for the three months ended March 31, 2024 and 2025 include shortfall tax impacts of approximately $1.3 million and windfall tax impacts of approximately $0.5 million, respectively, related to share-based payment arrangements.

The Company had no unrecognized tax benefits as of December 31, 2024 and March 31, 2025. 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 $2.4 million and $1.9 million in income taxes during the three months ended March 31, 2024 and 2025, respectively.

The tax years since 2021 remain open for federal tax examination, the tax years since 2020 remain open to examination by certain states, and the tax years since 2019 remain open to examination by foreign taxing jurisdictions in which the Company is subject to taxation.