Income Taxes

3 Months Ended

Mar. 31, 2022

Income Taxes [Abstract]

Income Taxes

Note 10 – Income Taxes The interim provision for income taxes is different from the amount determined by applying the U.S. federal statutory rate to consolidated income or loss before taxes. The differences are attributable to foreign tax rate differential, unrecognized tax benefits, and change in valuation allowance. Our effective tax rate was 2.4% and 25.9% for the three months ended March 31, 2022, and 2021, respectively. The difference between 2022 and 2021 is primarily related to an increase in valuation allowance in 2022. The forecasted effective tax rate is updated each quarter as new information becomes available.