INCOME TAXES

3 Months Ended

Mar. 31, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES

For the three-month periods ended March 31, 2023 and 2022, the Company calculated its effective tax rate estimating its annual effective tax rate. The Company’s effective tax rate for the three months ended March 31, 2023 and 2022 was 26.6% and 28.9%, respectively, including the impact of discrete items. Excluding discrete items, the Company's effective tax rate for the three months ended March 31, 2023 and 2022 was 30.0%. The effective tax rates for the first quarter of 2023 and 2022 were primarily impacted by federal and state taxes.

As of March 31, 2023, the Company had approximately $8.4 million of unrecognized tax benefits included in other non-current liabilities, $8.0 million, net of deferred taxes, which would impact the effective tax rate if recognized. During the three months ended March 31, 2023, the Company had net increases of $0.7 million to its current year unrecognized tax benefits related to federal and state tax provisions.

The tax years 2012 through 2022 remain open to examination by certain taxing jurisdictions to which the Company is subject to tax.