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Income Taxes
9 Months Ended
Sep. 30, 2023
Income Tax Disclosure [Abstract]  
Income Taxes Income TaxesOur overall effective income tax rates were 23.2% and 22.2% for the three and nine months ended September 30, 2023 and 22.3% and 25.4% for the three and nine months ended September 30, 2022. The rates for the three and nine months ended September 30, 2023 resulted in income tax expense of $32.5 million and $80.3 million, respectively, compared to the income tax expense of $41.4 million and $164.3 million for the three and nine months ended September 30, 2022, respectively. The year-over-year increase in the effective tax rate for the three months ended September 30, 2023, was due to a decrease in energy tax credits in 2023. During the three months ended September 30, 2022, the Inflation Reduction Act retroactively extended the energy tax credit for the period January 1, 2022 through December 31, 2022 during the quarter. The year-over-year decrease in the effective rate for the nine months ended September 30, 2023, was primarily related to a decrease in non-deductible executive compensation and an increase in the windfall on non-qualifying stock options exercised and lapsed restricted stock during the period.