Income Taxes

3 Months Ended

Mar. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The following is a summary of Income before income taxes, Provision for income taxes, and effective tax rate for the periods presented:

	Three Months Ended
	March 31,
	2023			2022
Income before income taxes	$	54,982		$	60,191
Provision for income taxes	$	9,492		$	3,231
Effective tax rate	17.3		%	5.4		%

For the three months ended March 31, 2023, the effective tax rate was higher primarily due to the decrease in discrete tax benefits recognized in the current year period. For the three months ended March 31, 2023 and 2022, the Company recorded tax benefits of $7,073 and $12,728, respectively, primarily associated with windfall tax benefits from stock‑based compensation, net of the impact from officer compensation limitation provisions.