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Income Taxes | 6 Months Ended
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Jun. 30, 2025
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes The following table presents the provision for income taxes for the respective periods:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(dollars in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Provision for income taxes | $ | 27,214 |  |  | $ | 20,693 |  |  | $ | 15,458 |  |  | $ | 11,167 |
Effective tax rate | 25.3 | % |  | 34.7 | % |  | 22.9 | % |  | 54.3 | %
Our effective tax rate for the three and six months ended June 30, 2025 is lower than the prior period primarily due to non-deductible debt extinguishment costs incurred in the prior year. On July 4, 2025, Public Law No. 119-21 known as the “One Big Beautiful Bill Act” (“OBBBA”) was signed into law. The OBBBA makes permanent key elements of the Tax Cuts and Jobs Act of 2017. The effects of the new law are not reflected in the consolidated financial statements as of and for the period ended June 30, 2025 because the legislation was enacted in July. We are currently evaluating the effect of this legislation on our financial statements.

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