XML 29 R19.htm IDEA: XBRL DOCUMENT v3.22.1
Income Tax (Benefit) Expense
 3 Months Ended
Mar. 31, 2022
Income Tax Disclosure [Abstract]  
Income Tax (Benefit) Expense Income Tax (Benefit) Expense
The following table provides information regarding the Company’s income tax (benefit) expense for the three months ended March 31, 2022 and 2021 (dollars in thousands):
Three Months ended
March 31,
20222021
(unaudited)
Income tax (benefit) expense$(10,893)$5,235 
Effective tax rate(74.0)%47.9 %

Income tax benefit was $10.9 million for the three months ended March 31, 2022 and income tax expense was $5.2 million for the three months ended March 31, 2021. The change for the three months ended March 31, 2022 was primarily from tax benefits associated with the Adamas legal entities reorganization in the first quarter of 2022. The reorganization resulted in favorable impact on certain state apportionment factors. The change in the effective income tax rate for the three months ended March 31, 2022 as compared to the same period in the prior year was mainly due to changes in the effective state tax rates as a result of the Adamas legal entities reorganization.