INCOME TAXES

6 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

INCOME TAXES

(8) INCOME TAXES

The Company's effective tax rate was 36.0%, 44.7%, 11.8%, and 21.4% for the three and six months ended June 30, 2022 and 2021, respectively. The effective tax rate in the three and six months ended June 30, 2022 is primarily influenced by the mix of income between the Company's U.S. and non-U.S. operations, net of changes in valuation allowances offset by the positive impact of non-taxable changes in fair value of the warrant liabilities. The effective rates for the comparative three and six month period were primarily influenced by the mix of income between the Company's U.S. and non-U.S. operations, net of changes in valuation allowances, and reflect the negative impact of non-deductible changes in fair value of the warrant liabilities as well as a discrete tax adjustment related to legislative changes enacted in the comparative period.

The Company provided U.S. federal income taxes and foreign withholding taxes on all temporary differences attributed to basis differences in foreign subsidiaries that are not considered indefinitely reinvested. As of June 30, 2022, the Company has certain earnings of certain foreign affiliates that continue to be indefinitely reinvested, but it was not practicable to estimate the associated deferred tax liability, due to interaction with other tax laws and regulations in the year of inclusion.