INCOME TAXES

9 Months Ended

Sep. 30, 2025

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES

The effective tax rate for the three and nine months ended September 30, 2025 was 24.9% and 24.6%, respectively, compared to 24.4% and 24.3%, respectively, for the same periods in 2024. For the three months ended September 30, 2025, the effective tax rate differed from the U.S. federal statutory income tax rate primarily due to state income taxes, non-deductible executive compensation, and excess tax benefits from share-based compensation.

There were no unrecognized tax benefits as of September 30, 2025 or December 31, 2024.

On July 4, 2025, the One Big Beautiful Bill Act ("OBBB") was enacted into law. Key tax components of OBBB include extension of the expiring tax provisions from the 2017 Tax Cuts and Jobs Act, the reinstatement of immediate expensing of qualifying business property, full expensing of domestic research and experimental expenditures, and accelerated expiration dates for certain energy credits. The tax provisions of OBBB are not expected to have a material impact on our financial statements.