Income Taxes

3 Months Ended

Mar. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

7. Income Taxes

The Company’s effective tax rates for the three months ended March 31, 2023 and 2022 were 10% and (12)%, respectively.

The changes in the effective tax rates were primarily driven by the Company’s forecasted ability to partially benefit from current year anticipated tax attributes for which a full federal valuation allowance was provided for in the prior period. The effective tax rates for the three months ended March 31, 2023 was lower than the 21% U.S. statutory corporate income tax rate. This difference is primarily due to the Company’s inability to benefit from certain tax attributes in the US, as well as losses in certain non-U.S. jurisdictions for which a tax benefit has not been recorded.