Quarterly report pursuant to Section 13 or 15(d)

Income Taxes

v3.22.2
Income Taxes
 6 Months Ended
Jun. 30, 2022
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The calculation of our effective tax rate is as follows for the three and six months ended June 30, 2022 and 2021 (in thousands, except percentages):
Three Months Ended
June 30,		 Six Months Ended
June 30,
2022 2021 2022 2021
Income before income taxes $ 152,338  $ 71,676  $ 276,727  $ 133,703 
Income tax expense $ 33,444  $ 14,630  $ 59,933  $ 26,605 
Effective tax rate 22.0  % 20.4  % 21.7  % 19.9  %

For interim periods, our income tax expense and resulting effective tax rate are based upon an estimated annual effective tax rate adjusted for the effects of items required to be treated as discrete to the period, including changes in tax laws, changes in estimated exposures for uncertain tax positions, and other items.