Income Taxes

6 Months Ended

Jun. 30, 2025

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

Income tax expense is provided on an interim basis based upon our estimate of the annual effective income tax rate, adjusted each quarter for discrete items. For both the three months ended June 30, 2025 and 2024, our effective tax rate was 20.9%. For the six months ended June 30, 2025 and 2024, our effective tax rate was 20.8% and 20.9%, respectively.

New tax legislation, referred to as the One Big Beautiful Bill Act ("OBBBA"), was signed into law on July 4, 2025. The OBBBA includes changes to the timing of tax deductions for depreciation and software development expenditures. We do not expect OBBBA to have a material impact on our effective tax rate. The impact of the OBBBA on deferred tax balances are required to be recognized in the period the legislation is enacted.