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Quarterly report pursuant to Section 13 or 15(d)

Income Taxes

v3.21.2
Income Taxes
 6 Months Ended
Jun. 30, 2021
Income Tax Disclosure [Abstract] 听
Income Taxes Income Taxes
The calculation of our effective tax rate is as follows for the three and six months ended June 30, 2021 and 2020 (in thousands, except percentages):

Three Months Ended
June 30,		 Six Months Ended
听June 30,
2021 2020 2021 2020
Income before income taxes $ 71,676听 $ 34,923听 $ 133,703听 $ 106,291听
Income tax expense $ 14,630听 $ 7,340听 $ 26,605听 $ 21,307听
Effective tax rate 20.4听 % 21.0听 % 19.9听 % 20.0听 %

The effective tax rates were lower than the U.S. federal statutory rate of 21% primarily due to statutory depletion allowed on mineral royalty income.