XML 89 R75.htm IDEA: XBRL DOCUMENT v3.26.1
Income Taxes - Effective Income Tax Reconciliation (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Amount      
Tax at federal statutory rate $ 60,135 $ 76,243 $ 31,839
State taxes, net of federal benefits (a) 12,191 9,758 4,217
Permanent differences 899 1,621 1,707
Executive and equity-based compensation limitations 4,676 3,545 190
Noncontrolling interests (19,761) (18,099) (15,171)
Change in valuation allowance 0 0 0
Change in unrecognized tax benefit 0 (9,210) 664
Tax credits (382) (464) (1,001)
Other, net (1,535) (42) 192
Income tax expense $ 56,223 $ 63,352 $ 22,637
Percent      
Tax at federal statutory rate 21.00% 21.00% 21.00%
State taxes, net of federal benefits (a) 4.30% 2.70% 2.80%
Permanent differences 0.30% 0.40% 1.10%
Executive and equity-based compensation limitations 0.016 0.010 0.001
Noncontrolling interests (6.90%) (5.00%) (10.00%)
Change in valuation allowance 0.00% 0.00% 0.00%
Change in unrecognized tax benefit 0.00% (2.50%) 0.50%
Tax credits (0.10%) (0.10%) (0.70%)
Other, net (0.50%) 0.00% 0.10%
Effective income tax rate 19.70% 17.50% 14.90%