Income Taxes (Tables)

3 Months Ended

Mar. 31, 2022

Schedule of Pre-Tax Income (Loss) and Effective Income Tax Rates

For the three months ended March 31, 2022 and 2021, pre-tax income (loss) attributable to our operations and the corresponding operations’ effective tax rates were as follows:


	For the Three Months Ended March 31,
	2022				2021
(in millions)	Pre-Tax Income (Loss)		Effective Tax Rate		Pre-Tax Income (Loss)		Effective Tax Rate
Bermuda	$	(0.2)	—	%	$	5.0	—	%
United States	38.8		21.9	%	41.3		15.7	%
United Kingdom	5.0		80.8	%	(18.3)		28.1	%

Brazil	(0.1)		(422.4)	%	1.6		—	%
United Arab Emirates	0.6		—	%	0.3		—	%
Ireland	(33.3)		—	%	(0.1)		—	%
Italy	0.1		138.1	%	0.9		—	%
Malta	1.1		—	%	0.5		—	%

Pre-tax income	$	12.0	109.7	%	$	31.2	4.3	%

Reconciliation of Difference Between Provision for Income Taxes and Expected Tax Provision at Weighted Average Tax Rate

A reconciliation of the difference between the provision for income taxes and the expected tax provision at the weighted average tax rate is as follows:


	For the Three Months Ended March 31,
(in millions)		2022		2021
Income tax provision at expected rate		$	9.4	$	6.3
Tax effect of:
Nontaxable investment income		(0.1)		(0.2)
Foreign exchange adjustments		0.1		(0.2)
Sale of Brazil Operations		1.6		—
Change in uncertain tax position liability		0.1		(2.4)
Change in valuation allowance		(1.8)		(0.8)
Impact of change in tax rate related to Finance Act 2021		0.5		—
Lease termination		2.0		—
Other		1.2		(1.3)
Income tax provision		$	13.0	$	1.4