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Income Taxes
6 Months Ended
Jun. 30, 2023
Income Tax Disclosure [Abstract]  
Income Taxes Income TaxesIn determining the quarterly provision for income taxes, management uses an estimated annual effective tax rate based on forecasted annual pre-tax income, permanent tax differences, statutory tax rates and tax planning opportunities in the various jurisdictions in which the Company operates. The effect of significant discrete items is separately recognized in the quarter(s) in which they occur. For the three month periods ended June 30, 2023 and 2022, the Company’s consolidated effective tax rates were 14.9% and 10.9%, respectively, and for the six month periods ended June 30, 2023 and 2022 were 39.6% and 37.4%, respectively. The Company’s effective tax rate for the six month period ended June 30, 2023 included the effects of a net tax benefit of approximately $8.9 million related to share-based payment awards offset by an increase in non-deductible expenses, and for the six month period ended June 30, 2022, included a net benefit of approximately $1.0 million related to share-based payment awards as well as a benefit of approximately $2.0 million from the true-up of certain prior year non-deductible expenses.