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Income Taxes
9 Months Ended
Sep. 30, 2022
Income Tax Disclosure [Abstract]  
Income Taxes Income TaxesOur effective tax rate was 15% and 29% during the nine months ended September 30, 2022 and 2021, respectively, and 47% and 23% during the three months ended September 30, 2022 and 2021, respectively. The effective tax rate for the nine months ended September 30, 2022 was lower than the effective tax rate for the comparable period in 2021 primarily due to the deferred income tax benefit from the impairment to our equity method investment in Bakkt in the current year period, and the deferred income tax expense from U.K. tax law changes in the prior year period. During the nine months ended September 30, 2021, the U.K. Finance Act 2021 was enacted, which increased the U.K. corporate income tax rate from 19% to 25%, effective April 1, 2023. The effective tax rate for the three months ended September 30, 2022, was higher than the effective tax rate for the comparable period in 2021 primarily due to the deferred income tax benefit from the impairment to our equity method investment in Bakkt.