Income Taxes (Tables)

6 Months Ended

Jun. 30, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The provision (benefit) for income taxes consists of the following:

	Three Months Ended				Six Months Ended
	June 30, 2023		June 30, 2022		June 30, 2023		June 30, 2022
	(in thousands)
Current	$	13,037	$	5,277	$	18,472	$	9,086
Deferred	(5,359)		(1,100)		(4,438)		(127)
Income tax provision	$	7,678	$	4,177	$	14,034	$	8,959

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation of the Federal statutory income tax rate to the effective income tax rate is as follows:

	Three Months Ended				Six Months Ended
	June 30, 2023		June 30, 2022		June 30, 2023		June 30, 2022
Federal statutory rate	21.0	%	21.0	%	21.0	%	21.0	%
State income taxes, net of Federal benefit	4.6		6.3		4.4		4.5
Excess tax benefits related to share-based compensation (Note 12)	(3.8)		(1.0)		(6.0)		(1.7)
Return to provision	—		(1.2)		(0.1)		(0.6)
Research and development credits	(1.2)		(1.5)		(1.3)		(1.2)
Change in valuation allowance (Oklahoma Investment Credit)	(5.8)		—		(3.2)		—
Other	(0.4)		(2.8)		(0.3)		(1.1)
Effective tax rate	14.4	%	20.8	%	14.5	%	20.9	%