Income Taxes (Tables)

9 Months Ended

Sep. 30, 2024

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				Nine Months Ended
	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
	(in thousands)
Current	$	16,038	$	14,892	$	38,568	$	33,364
Deferred	(4,153)		521		(4,112)		(3,917)
Income tax provision	$	11,885	$	15,413	$	34,456	$	29,447

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				Nine Months Ended
	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
Federal statutory rate	21.0	%	21.0	%	21.0	%	21.0	%
State income taxes, net of Federal benefit	4.9		3.4		5.0		4.0
Excess tax benefits related to share-based compensation (Note 13)	(7.9)		(0.8)		(6.6)		(3.9)
Return to provision	(0.3)		0.9		(0.2)		0.3
Non-deductible executive compensation	1.9		—		1.5		—
Research and development credits	(1.1)		(0.2)		(1.2)		(0.9)
Change in valuation allowance (Oklahoma Investment Credit)	—		—		—		(2.0)
Other	(0.1)		—		(0.2)		(0.1)
Effective tax rate	18.4	%	24.3	%	19.3	%	18.4	%