Income Taxes

3 Months Ended

Mar. 31, 2024

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 1.6% and 4.1% for the three months ended March 31, 2024 and 2023, respectively. The difference is primarily due to an increase in reserve for unrecognized tax benefits in 2024. The forecasted effective tax rate is updated each quarter as new information becomes available.