Income Taxes

3 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

10. Income Taxes

	Three Months Ended March 31,
thousands except percentages	2022			2021			$ Change
Income tax expense (benefit)	$	701		$	(21,205)		$	21,906
Income (loss) before income taxes	2,872			(89,364)			92,236
Effective tax rate	24.4		%	23.7		%	NM

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.