XML 26 R15.htm IDEA: XBRL DOCUMENT v3.21.2
Income Taxes
9 Months Ended
Sep. 30, 2021
Income Tax Disclosure [Abstract]  
Income Tax Disclosure 10. INCOME TAXESThe Company’s income tax expense for the three and nine months ended September 30, 2021 was $13.9 million and $37.1 million, respectively, compared to $10.0 million and $17.4 million in the prior year periods. The effective tax rate was 21.3% and 21.3% for the three and nine months ended September 30, 2021, respectively, compared to 21.7% and 16.6% in the comparable prior year periods. The change in the effective tax rate for the three and nine months ended September 30, 2021 relates primarily to the impact of projected noncontrolling interest for the year and a tax benefit from the enactment of the Taxpayer Certainty and Disaster Tax Relief Act of 2019 (“the 2019 Act”). The 2019 Act retroactively reinstated the federal energy efficient homes tax credit that expired on December 31, 2017 to homes closed from January 1, 2018 to December 31, 2020. In December 2020, Congress approved the Taxpayer Certainty and Disaster Tax Relief Act of 2020, which extended the federal energy efficient homes tax credit through December 31, 2021.