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Quarterly report pursuant to Section 13 or 15(d)

Income Taxes

v3.21.2
Income Taxes
 9 Months Ended
Sep. 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 nine months ended September 30, 2021 and 2020 (in thousands, except percentages):
Three Months Ended
September 30,		 Nine Months Ended
September 30,
2021 2020 2021 2020
Income before income taxes $ 103,753听 $ 58,035听 $ 237,456听 $ 164,325听
Income tax expense $ 19,916听 $ 11,760听 $ 46,521听 $ 33,067听
Effective tax rate 19.2听 % 20.3听 % 19.6听 % 20.1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.