Income Taxes

3 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

For the three months ended March 31, 2022, we recorded a $1.4 million tax provision, or 26% effective tax rate for the period, compared to a $2.5 million tax provision for the three months ended March 31, 2021. Income tax expense for the three months ended March 31, 2022 and 2021 is based on an estimated annual effective tax rate, which requires management to make its best estimate of annual pretax income or loss. During the year, management regularly updates forecasted annual pretax results for the various countries in which the Company operates based on changes in factors such as prices, shipments, product mix, material inflation and manufacturing operations. To the extent that actual 2022 pretax results for U.S. and foreign income or loss vary from estimates, the actual income tax expense recognized in 2022 could be different from the forecasted amount used to estimate the income tax expense for the three months ended March 31, 2022.

For the three months ended March 31, 2022 and 2021, cash paid for taxes, net of refunds received were $1.4 million and $1.0 million, respectively.