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Income Taxes
9 Months Ended
Sep. 30, 2022
Income Tax Disclosure [Abstract]  
Income Taxes Income TaxesThe Company’s provision for income taxes is based upon estimated annual tax rates for the year applied to federal, state and foreign income. The provision for income taxes increased to $49.7 million for the three months ended September 30, 2022 from $35.4 million during the same period in 2021. The effective tax rate decreased to 21.8% for the three months ended September 30, 2022 from 23.4% during the same period in 2021 primarily due to the release of the valuation allowance on a capital loss carryforward that may now be realized as a result of the sale of Knight.The provision for income taxes increased to $129.2 million for the nine months ended September 30, 2022 from $96.0 million during the same period in 2021. The effective tax rate decreased to 22.1% for the nine months ended September 30, 2022 from 22.5% during the same period in 2021 primarily due to the release of the valuation allowance on a capital loss carryforward that may now be realized as a result of the sale of Knight.