Income Taxes

6 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Income Taxes

10. Income Taxes

	Three Months Ended June 30,						Six Months Ended June 30,
thousands except percentages	2024			2023			2024			2023
Income tax expense (benefit)	$	6,359		$	(15,370)		$	(10,836)		$	(16,648)
Income (loss) before income taxes	27,417			(34,511)			(42,245)			(58,416)
Effective tax rate	23.2		%	44.5		%	25.7		%	28.5		%

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.