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Income Taxes
 6 Months Ended
Jun. 30, 2023
Income Tax Disclosure [Abstract]  
Income Tax Disclosure Income taxes
During the three and six months ended June 30, 2023, Income before income taxes was $205,551 and $310,494 respectively, while income tax expense was $57,918 and $78,986, respectively. The effective tax rate was 28.2 percent and 25.4 percent for the three and six months ended June 30, 2023, respectively. The effective tax rate for the current three and six month periods differed from the 2023 statutory rate of 24.9 percent primarily due to tax expense recorded related to basis differences in the Company's retained Knife River shares.
During the three and six months ended June 30, 2022, Income before income taxes was $41,109 and $128,668 respectively, and income tax expense was $5,347 and $24,140, respectively. The effective tax rate was 13.0 percent and 18.8 percent for the three
and six months ended June 30, 2022, respectively. The effective tax rate differed from the 2022 statutory rate of 25.3 percent due to tax credits and other permanent tax benefits.