The Company computes its provision for income taxes by applying the estimated annual effective tax rate to pretax income or loss and adjusts the provision for discrete tax items recorded in the period. The income tax expense, effective tax rates, and statutory federal income tax rates for the three and six months ended June 30, 2024 and 2023 were as follows (in thousands, except percentages):


	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Income tax expense	$	647		$	5,812		$	3,769		$	9,442
Effective tax rate	8.4		%	28.8		%	88.1		%	32.7		%
Statutory federal income tax rate	21		%	21		%	21		%	21		%