Income Taxes

9 Months Ended

Sep. 30, 2022

Income Taxes

Income Taxes

12. Income Taxes

The Company applies an estimated annual effective rate to interim period pre-tax income to calculate the income tax provision for the quarter in accordance with the principal method prescribed by the accounting guidance established for computing income taxes in interim periods. The Company’s effective tax rates were 21.8% and 22.8% for the three months ended September 30, 2022 and 2021, respectively, and 22.7% and 23.2% for the nine months ended September 30, 2022 and 2021, respectively.