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Income Taxes
 6 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company’s effective income tax rates were 28.8% and 28.7% for the three and six months ended June 30, 2025, respectively. The effective income tax rates differed from the federal statutory rate primarily due to the impact of stock‑based compensation, state income taxes, and an increase in the valuation allowance.
The Company’s effective income tax rates were (33.3)% and 38.1% for the three and six months ended June 30, 2024, respectively. The rate for the three months ended June 30, 2024 differed from the federal statutory rate primarily due to income attributable to noncontrolling interests which is not taxable to the Company. The rate for the six months ended June 30, 2024 differed from the federal statutory rate primarily due to the unfavorable impact of stock-based compensation, partially offset by the effect of income attributable to noncontrolling interests.
Subsequent to the end of the second quarter of 2025, on July 4, 2025, the One Big Beautiful Bill Act (the “OBBBA”) was enacted. The changes in the tax law in the OBBBA, including changes to the calculation of the business interest expense limitation and reinstatement of 100% bonus depreciation, are expected to affect the Company’s current and deferred tax balances in future periods. The Company is currently evaluating the impact of the legislation on its condensed consolidated financial statements.