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Income Taxes
3 Months Ended
Mar. 31, 2021
Income Tax Disclosure [Abstract]  
Income Taxes Income TaxesThe Company’s effective tax rate (“ETR”) was 24.4% for the three months ended March 31, 2021 and 32.3% for the three months ended March 31, 2020. The ETR differs from the 21.0% U.S. Federal statutory rate primarily due to tax permanent differences and discrete items recorded in each of the respective periods. As of March 31, 2021 and December 31, 2020, the amount of unrecognized tax benefits was $23.7 million excluding interest and penalties, respectively, of which up to $23.7 million, respectively, would affect the Company's effective tax rate if realized. As of March 31, 2021 and December 31, 2020, the Company had $8.8 million and $8.4 million, respectively, recorded for interest in the condensed consolidated balance sheets. The Company engages in continuous discussions and negotiations with tax authorities regarding tax matters in various jurisdictions. The Company expects to complete resolution of certain tax years with various tax authorities within the next 12 months. The Company believes it is reasonably possible that its existing gross unrecognized tax benefits may be reduced by up to $21.8 million within the next 12 months, affecting the Company’s effective tax rate if realized.