Income Taxes

6 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

During the three months ended June 30, 2022 and 2021, the Company recorded a tax provision of $45.3 million and $33.7 million, respectively, which reflects income tax expense related to the periods’ income before income taxes. The effective tax rate for the three months ended June 30, 2022 and 2021 was 24.9% and 23.8%, respectively. The increase in the effective rate from the three months ended June 30, 2021 was primarily attributable to a $1.0 million decrease in tax benefits from the non-renewal of the energy efficient home credits for 2022 in addition to a $0.9 million decrease in tax benefits from equity compensation.

During the six months ended June 30, 2022 and 2021, the Company recorded a tax provision of $75.7 million and $59.1 million, respectively. The effective tax rate for the six months ended June 30, 2022 and 2021 was 24.9% and 23.5%, respectively. The increase in the effective rate from the six months ended June 30, 2021 was primarily attributable to a $2.3 million decrease in tax benefits from the non-renewal of the energy efficient home credits for 2022 and a $2.0 million decrease in tax benefit from equity compensation taken during the first half of 2022 compared to the same period in 2021.