INCOME TAXES |
3 Months Ended |
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Mar. 31, 2022 | |
| INCOME TAXES | |
| INCOME TAXES |
NOTE 15.INCOME TAXES The Company’s provision for income taxes is recorded on an interim basis based upon the Company’s estimate of the annual effective income tax rate for the full year applied to “ordinary” income or loss, adjusted each quarter for discrete items. The Company recorded provision for income taxes of $19.9 million and $27.2 million for the three months ended March 31, 2022 and 2021, respectively. The Company’s effective tax rate decreased to 21.6% in the first quarter of 2022 compared to 22.7% in 2021. The rate was lower due to a decrease in foreign taxes offset by a reduction in restricted stock benefits from 2021 to 2022. As of March 31, 2022 and December 31, 2021, we had deferred income tax assets of $3.0 million and $2.9 million, respectively, included in other assets, and deferred income tax liabilities of $13.5 million and $13.3 million, respectively, included in other long-term accrued liabilities. |
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- References No definition available.
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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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