Income Taxes	9 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rate used for interim periods is based on an estimated annual effective tax rate including the tax effect of items required to be recorded discretely in the interim period in which those items occur. The effective tax rate is dependent on many factors, including the estimated amount of income subject to income tax; therefore, the effective tax rate can vary from period to period. The Company evaluates the realizability of its deferred tax asset on a quarterly basis and adjusts the valuation allowance when it is more likely than not that all or a portion of the deferred tax asset may not be realized. The Company’s effective tax rate was 12.6% and 15.2% for the three and nine months ended December 31, 2021, respectively, and 10.5% and 16.5% for the three and nine months ended December 31, 2020, respectively. The effective tax rates were different from the statutory tax rates due to the portion of income allocated to non-controlling interests, valuation allowance recorded against deferred tax assets and state income tax expense recorded in the periods. In connection with the September 2021 Offering and unit exchanges, the Company recorded a deferred tax asset in the amount of $16,996, which is net of a valuation allowance of $2,786 related to the portion of tax benefits that more likely than not will not be realized. Additionally, in connection with the September 2021 Offering and unit exchange and recording of the deferred tax asset, the Company recorded a payable to related parties pursuant to the tax receivable agreement of $14,277. During the quarter ended December 31, 2021, the Company exercised its contractual right to terminate early the rights of certain parties to receive ongoing payments under the tax receivable agreement by making early termination payments of $15,584. As a result of the early termination payments, the Company recognized a gain of $4,319 during the three months ended December 31, 2021 that is recorded in non-operating income in the Condensed Consolidated Statement of Income. As of December 31, 2021, the Company had no unrecognized tax positions and believes there will be no changes to uncertain tax positions within the next 12 months.

Income Taxes

9 Months Ended

Dec. 31, 2021

Income Taxes The Company’s effective tax rate used for interim periods is based on an estimated annual effective tax rate including the tax effect of items required to be recorded discretely in the interim period in which

those items occur. The effective tax rate is dependent on many factors, including the estimated amount of income subject to income tax; therefore, the effective tax rate can vary from period to period. The Company evaluates the realizability of its deferred tax asset on a quarterly basis and adjusts the valuation allowance when it is more likely than not that all or a portion of the deferred tax asset may not be realized.

The Company’s effective tax rate was 12.6% and 15.2% for the three and nine months ended December 31, 2021, respectively, and 10.5% and 16.5% for the three and nine months ended December 31, 2020, respectively. The effective tax rates were different from the statutory tax rates due to the portion of income allocated to non-controlling interests, valuation allowance recorded against deferred tax assets and state income tax expense recorded in the periods.

In connection with the September 2021 Offering and unit exchanges, the Company recorded a deferred tax asset in the amount of $16,996, which is net of a valuation allowance of $2,786 related to the portion of tax benefits that more likely than not will not be realized. Additionally, in connection with the September 2021 Offering and unit exchange and recording of the deferred tax asset, the Company recorded a payable to related parties pursuant to the tax receivable agreement of $14,277.

During the quarter ended December 31, 2021, the Company exercised its contractual right to terminate early the rights of certain parties to receive ongoing payments under the tax receivable agreement by making early termination payments of $15,584. As a result of the early termination payments, the Company recognized a gain of $4,319 during the three months ended December 31, 2021 that is recorded in non-operating income in the Condensed Consolidated Statement of Income.

As of December 31, 2021, the Company had no unrecognized tax positions and believes there will be no changes to uncertain tax positions within the next 12 months.