Income Taxes

3 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The following table summarizes the Company’s provision for income taxes and effective income tax provision rate for the three month periods ended March 31, 2022 and 2021.

	For the Three Month Period Ended March 31,
	2022			2021
Income before income taxes	$	142.6		$	100.7
Provision for income taxes	$	32.4		$	10.6
Effective income tax provision rate	22.7		%	10.5		%

The increase in the provision for income taxes and increase in the effective income tax provision rate for the three month period ended March 31, 2022 when compared to the same three month period of 2021 is primarily due to an increase in the pretax book income in jurisdictions with higher effective tax rates combined with decreased earnings in jurisdictions with lower tax rates. In addition, in the three month period ended March 31, 2021, there was a reduction of a significant unrecognized tax reserve related to a non-recurring item as a result of the lapse of the limitation on statutes.