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Income Taxes
6 Months Ended
Jun. 30, 2021
Income Taxes [Abstract]  
Income Taxes 7. Income TaxesThe effective tax rate for the three months ended June 30, 2021, was a provision of 23.7%, a change from a benefit of 289.4% for the three months ended June 30, 2020. The change is primarily due to the proportionality of the excess tax benefits from option exercises and equity vesting relative to profit or loss before tax in each respective quarter.The effective income tax rate for the six months ended June 30, 2021, was a provision of 22.3%, a change from a benefit of 21.6% for the six months ended June 30, 2020. The change is primarily due to increased profit before tax and fewer excess tax benefits related to option exercises and equity vesting in the six months ended June 30, 2021 compared to the six months ended June 30, 2020.On March 11, 2021, President Biden signed the American Rescue Plan Act (“ARPA”). The ARPA includes several provisions, such as measures that extend and expand the employee retention credit, previously enacted under the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), through December 31, 2021. For the quarter ended June 30, 2021, we did not record a tax benefit related to the employee retention credit. We are still evaluating the ARPA and we do not expect that it will have a material impact on our condensed consolidated financial statements.