Income Taxes

6 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The consolidated income tax expense or benefit for the three and six months ended June 30, 2024 and 2023, was determined based upon the Company’s estimated consolidated effective income tax rates calculated without discrete items for the years ending December 31, 2024 and 2023, respectively, and then adjusting for any discrete items.

The Company’s effective tax rates for the three months ended June 30, 2024 and 2023 were 28.4% and 28.2%, respectively. The Company’s effective tax rates for the six months ended June 30, 2024 and 2023 were 27.6% and 27.4%, respectively.

The difference between the consolidated effective income tax rate and the U.S. federal statutory rate for the three and six months ended June 30, 2024 was primarily attributable to state income taxes and other permanent items.