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Income Taxes

6 Months Ended

Jun. 30, 2021

Our income before income tax provision, income tax provision and effective tax rates were as follows:


	Three Months Ended						Six Months Ended
(in thousands, except percentages)	June 30, 2021			June 30, 2020			June 30, 2021			June 30, 2020
Income before income tax provision	$	128,860		$	112,585		$	176,483		$	145,909
Income tax provision	35,144			16,021			10,369			3,281
Effective tax rate	27.3		%	14.2		%	5.9		%	2.2		%

Tax expense for the first half of 2021 and 2020 benefited due to increased stock compensation benefits, many of which were recognized discretely in the first quarter of each year. These benefits were partially offset by an increase in non-deductible compensation in 2021.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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