Income Taxes |
9 Months Ended | ||||||||
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Sep. 30, 2018 | |||||||||
Income Tax Disclosure [Abstract] | |||||||||
Income Taxes | Income Taxes The Company’s effective tax rate for the three and nine months ended September 30, 2018 was 21.6% and 17.2%, respectively. For the three and nine months ended September 30, 2017, the Company's effective tax rate was 33.7% and 29.5%, respectively. The reduction in the effective tax rate was primarily due to the following items:
Additionally, the effective tax rate for the three and nine months ended September 30, 2018 and 2017 was favorably impacted by the recognition of an income tax benefit related to excess tax benefits from stock option exercises. This income tax benefit was $12,585 and $58,607 for the three and nine months ended September 30, 2018, respectively, and was $8,357 and $44,720 for the three and nine months ended September 30, 2017, respectively. |