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Income Taxes (Tables)
3 Months Ended
Mar. 31, 2021
Income Tax Disclosure [Abstract]  
Summary of Income Tax Expense and Effective Tax Rate

The following table summaries the Company’s income tax expense and effective tax rate for the three months ended March 31, 2021 and 2020

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2021

 

 

2020

 

 

 

(dollars in thousands)

 

Income Before Provision for Income Taxes

 

$

64,627

 

 

$

41,499

 

Provision for Income Taxes

 

 

34,549

 

 

 

17,894

 

Effective Tax Rate

 

 

53

%

 

 

43

%