Income Taxes

3 Months Ended

Mar. 31, 2025

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

For the three months ended March 31, 2025 and 2024, the Company recorded an income tax benefit of $631 on pre-tax losses of $2,748 and an income tax expense of $289 on pre-tax income of $4,694, respectively, for an effective income tax rate of 23.0% and 6.2%, respectively. The Company's effective income tax rate for the three months ended March 31, 2025 differed from the federal statutory rate of 21% primarily due to state income taxes, nondeductible expenses and the discrete impact of excess tax benefits related to share-based compensation, offset by the impact of pre-tax losses in foreign jurisdictions with full valuation allowances for which no income tax benefit was recognized. Changes in pre-tax income projections, combined with the seasonal nature of our businesses, could also impact the effective income tax rate each quarter.