Taxes

9 Months Ended

Sep. 30, 2021

Income Tax Disclosure [Abstract]

Taxes

Taxes

The Company’s provision (benefit) for income taxes included in its Condensed Consolidated Statements of Income and Comprehensive Income (Loss) was as follows:

	Three Months Ended September 30,
	2021			2020
	(in thousands, except percentages)
Provision (benefit) for income taxes	$	41		$	(37)
Effective tax rate	(0.3)		%	0.2		%

	Nine Months Ended September 30,
	2021			2020
	(in thousands, except percentages)
Provision (benefit) for income taxes	$	163		$	(2,348)
Effective tax rate	(0.3)		%	0.7		%

The Company’s effective income tax rate fluctuates from the statutory tax rate of the United States (the “U.S.”) based

on, among other factors, the impact of U.S. state and local taxes, the realizability of deferred tax assets, differences related to the recognition of income and expense between U.S. GAAP and tax accounting, and changes in pre-tax income in jurisdictions with varying statutory tax rates.

The Company recorded an income tax provision of less than $0.1 million and $0.2 million for the three and nine months ended September 30, 2021, respectively, compared to an income tax benefit of less than $0.1 million and $2.3 million for the three and nine months ended September 30, 2020, respectively. The difference in tax position is primarily a result of the discrete tax impact from the Coronavirus Aid, Relief, and Economic Security Act, and the goodwill impairment recorded during the first quarter of 2020.