Income Taxes

6 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

Income Taxes

10. Income Taxes

	Three Months Ended June 30,							Six Months Ended June 30,
thousands except percentages	2021		2020			$ Change		2021			2020			$ Change
Income tax expense (benefit)	$	(1,550)	$	(6,844)		$	5,294	$	(22,755)		$	(40,944)		$	18,189
Income (loss) before income taxes	2,067		(40,947)			43,014		(87,297)			(200,129)			112,832
Effective tax rate	NM		16.7		%	NM		26.1		%	20.5		%	5.6		%

NM—Not Meaningful

The Company’s tax provision for interim periods is determined using an estimate of its annual current and deferred effective tax rates, adjusted for discrete items. The Company’s effective tax rate is typically impacted by non-deductible executive compensation and other permanent differences as well as state income taxes, which cause the Company’s effective tax rate to deviate from the federal statutory rate. For the three and six months ended June 30, 2020, the effective rate was also impacted by a valuation allowance on the Company’s charitable contribution carryover.