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Income Taxes
9 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
For the nine months ended September 30, 2025 and 2024, the Company calculated its year-to-date provision for income taxes by applying the estimated annual effective tax rate to the year-to-date profit from operations before income taxes and adjusts the provision for income taxes for discrete tax items recorded in the period. The Company updates its estimate of its annual effective tax rate at the end of each quarterly period. The estimate takes into account annual forecasted income before income taxes and any significant permanent tax items. During the nine months ended September 30, 2025 and September 30, 2024, the Company recorded a provision for income taxes of $31.5 million and $21.7 million respectively, primarily driven by the Company's operating profit and equity compensation activity that occurred during the period.
On July 4, 2025, the One Big Beautiful Bill Act (the “OBBBA”) was signed into law. The OBBBA includes various changes to U.S. federal income tax law, including extensions of several expiring provisions from the Tax Cuts and Jobs Act of 2017. The OBBBA has multiple effective dates, with certain provisions effective in 2025. Based on the Company's initial assessment of the OBBBA, it is not expected to have a material impact on the Company's 2025 annual effective tax rate. The Company will continue to evaluate the impact of the new legislation on its consolidated financial statements as additional guidance is issued.