Income Taxes

9 Months Ended

Sep. 30, 2025

Income Tax Disclosure [Abstract]

Income Taxes

14.    Income Taxes

Our effective tax rate for the three and nine month periods ended September 30, 2025 was 22.8% and 24.5%, respectively, compared to 20.3% and 20.6% for the three and nine months ended September 30, 2024, respectively. The increase in the effective tax rate in each period in 2025 is primarily attributable to recognizing a lower income tax benefit related to excess tax benefits from stock option exercises, which totaled $13,436 and $19,655 for the three and nine months ended September 30, 2025, respectively, compared to $23,128 and $73,736 for the three and nine months ended September 30, 2024, respectively.

On July 4, 2025, the One Big Beautiful Bill Act (the "Act") was signed into law, implementing several changes to U.S. federal tax law. The Company has evaluated the provisions of the Act and does not expect the Act to have a material impact on its consolidated financial statements.