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Income Taxes
 6 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The following table presents our income tax provision and our income tax rate for the three and six months ended June 30, 2025 and 2024 (in thousands, except percentages):
 
For the three months ended
June 30,
For the six months ended
June 30,
 2025202420252024
Income tax provision$109,867 $91,563 $193,387 $162,130 
Income tax rate26.7 %27.0 %26.3 %26.7 %
The difference between the U.S. statutory tax rate of 21% and our effective income tax rate for both the three and six months ended June 30, 2025 and 2024 was primarily a result of state and local income taxes and other permanent book-to-tax differences.
The increase in our income tax provision for the three and six months ended June 30, 2025, when compared to the three and six months ended June 30, 2024, was due to greater income before income taxes. The decrease in our effective income tax rate for the three and six months ended June 30, 2025 as compared to the three and six months ended June 30, 2024 was primarily attributable to a decrease in the state and local effective tax rate due to changes in the mix of earnings.
As of June 30, 2025 and December 31, 2024, we had no unrecognized income tax benefits.
We file a consolidated federal income tax return including all of our U.S. subsidiaries with the Internal Revenue Service. We additionally file income tax returns with various state, local, and foreign tax agencies. Our income tax returns are subject to audit by various taxing authorities and are currently under examination for the years 2020 through 2023.
On July 4, 2025, the U.S. government enacted The One Big Beautiful Bill Act of 2025 (“OBBBA”). The OBBBA makes permanent key elements of the Tax Cuts and Jobs Act, including accelerated bonus depreciation. While we currently do not expect this legislation to have a material impact on our annual effective tax rate for 2025, we are evaluating the future impact of the OBBBA on our financial position and/or results of operations.