INCOME TAXES

3 Months Ended

Mar. 31, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES

The tax provision for interim periods is determined using the estimated annual effective consolidated tax rate, based on the current estimate of full-year earnings and related estimated full year-taxes, adjusted for the impact of discrete quarterly items.

The effective tax rate for the three months ended March 31, 2023 and 2022, respectively, was 25.5% and 28.0%. The lower effective tax rate for the three months ended March 31, 2023 reflects tax benefits from amended U.S. tax filings of $1.3 million and an increase in tax benefits from share based compensation of $0.8 million.