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Income Taxes
 3 Months Ended
Mar. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
 
The effective tax rate is calculated as the amount of income tax expense (benefit) divided by income before income tax expense (benefit). For the three months ended March 31, 2025 and 2024, the Company’s approximate effective tax rates were as follows:

 20252024
Three Months Ended March 31,14.1%19.4%

In the three months ended March 31, 2025, the Company recognized approximately $2.6 million of excess tax benefits related to stock compensation for employees, $3.8 million of benefit for purchased Federal energy tax credits, and $0.5 million in other discrete tax benefits. For the three months ended March 31, 2024, the Company recognized approximately $4.2 million of excess tax benefits related to stock compensation for employees and $0.1 million in other discrete tax benefits.
 
As of March 31, 2025, the earliest year remaining open for Federal audits and/or settlement is 2021 and for state audits and/or settlement is 2020.  Although the Company believes that recorded liabilities for unsettled issues are adequate, additional gains or losses could occur in future periods from resolution of outstanding unsettled matters.