Income Taxes

3 Months Ended

Mar. 31, 2023

Income Taxes [Abstract]

Income Taxes

Note 11 – 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 4.1% and 2.4% for the three months ended March 31, 2023, and 2022, respectively. The difference is primarily due to the decrease in reserve for valuation allowance in 2023. The forecasted effective tax rate is updated each quarter as new information becomes available.