Income Taxes

3 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The following table provides a comparative summary of the Company's income tax provision and effective income tax rate for the three months ended March 31, 2022 and 2021:

	Three Months Ended March 31,
	2022			2021
Income tax provision	$	24,303		$	3,824
Effective income tax rate	26.2		%	1.5		%

The Company recorded an income tax provision of $24,303 for the three months ended March 31, 2022 compared to a provision for income taxes of $3,824 for the three months ended March 31, 2021. The increase in income tax expense of $20,479 was primarily attributable the mandatory capitalization of R&D expenses effective January 1, 2022 under the Tax Cuts and Jobs Act, offset by an increased benefit to the Company's foreign derived intangible income deduction.