Income Taxes

6 Months Ended

Jun. 30, 2023

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

During the three months ended June 30, 2023 and 2022, we recognized income tax expense of $585 and $488 (restated), respectively, which represent effective income tax rates of 24.0% and 23.0% (restated), respectively. The increase in our effective income tax rate from the three months ended June 30, 2022 is primarily due to the tax impact of expected geographic changes in our mix of 2023 earnings and reduced investment tax credits.

During the six months ended June 30, 2023 and 2022, we recognized income tax expense of $1,200 and $1,015 (restated), respectively, which represent effective income tax rates of 23.7% and 22.9% (restated), respectively. The increase in our effective income tax rate from the six months ended June 30, 2022 is primarily related to the tax impact of expected geographic changes in our mix of 2023 earnings and reduced investment tax credits.

Income taxes receivable totaled $48 and $440 at June 30, 2023 and December 31, 2022, respectively. We recognize the income receivable as an asset under the caption “Other current assets” in our consolidated balance sheets.