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Income Taxes
9 Months Ended
Sep. 30, 2021
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company’s effective tax rate (“ETR”) was 27.9% and 25.9% for the three and nine months ended September 30, 2021. The Company's ETR differs from the U.S. statutory rate of 21.0% primarily due to our geographic mix of taxable income in various tax jurisdictions and permanent tax differences attributable to the net impact of non-U.S. taxing jurisdictions.

The Company’s ETR was 99.4% and 20.8% for the three and nine months ended September 30, 2020. The Company's ETR differed from the U.S. statutory rate of 21.0% primarily due to the change in valuation allowance, state taxes, and discrete items. The discrete items for the nine months ended September 30, 2020 were primarily attributable to a partial release of uncertain tax positions due to favorable developments with ongoing U.S. federal tax examinations.

As of September 30, 2021 and December 31, 2020, the amount of unrecognized tax benefits, excluding interest and penalties, was $23.5 million and $23.7 million, respectively, of which up to $23.5 million, respectively, would affect the Company's effective tax rate if realized. As of September 30, 2021 and December 31, 2020, the Company had $9.6 million and $8.4 million, respectively, recorded for interest in the 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 $21.6 million within the next 12 months, affecting the Company’s effective tax rate if realized.