Income Tax

3 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

Income Tax

Income Tax

	Three Months Ended
	March 31, 2022		March 31, 2021
Effective tax rate	21	%	35	%

The decrease to the effective tax rate for the three months ended March 31, 2022 is primarily due to a decrease in net discrete tax expense. We recognized $0.9 million discrete tax benefit in the three months ended March 31, 2022 and $18.1 million net discrete tax expense in the prior year.

Our tax rate can be more or less volatile and may change with, among other things, the amount and source of pre-tax income or loss, our ability to utilize foreign tax credits, excess tax benefits or deficiencies from share-based compensation, changes in tax laws, and the movement of liabilities established pursuant to accounting guidance for uncertain tax positions as statutes of limitations expire, positions are effectively settled, or when additional information becomes available. There are proposed or pending tax law changes in various jurisdictions and other changes to regulatory environments in countries in which we do business that, if enacted, could have an impact on our effective tax rate.