Income Taxes

6 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

The Company recognized income tax expense of $11.6 million and $8.3 million for the three months ended June 30, 2019 and 2018, respectively. The increase in tax expense in the current-year quarter was largely due to higher pre-tax income levels. The Company’s effective tax rate for the three months ended June 30, 2019 was 26.1%, compared to 23.6% in the prior-year quarter, which included the recognition of a $0.5 million excess tax benefit from stock compensation activity.

For the six months ended June 30, 2019 and 2018, the Company recognized income tax expense of $17.5 million and $12.4 million, respectively. The increase in tax expense in the current year was largely due to higher pre-tax income levels. The Company’s effective tax rate for the six months ended June 30, 2019 was 25.8%, compared to 23.8% in the prior-year period, which included the recognition of a $0.5 million excess tax benefit from stock compensation activity.