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Income Taxes
 3 Months Ended
Mar. 31, 2024
Income Tax Disclosure [Abstract]  
Income Taxes
6.
INCOME TAXES
For interim income tax reporting the Group estimates its annual effective tax rate and applies it to its
year-to-date
ordinary income. The tax effects of unusual or infrequently occurring items, including changes in judgment about beginning of year valuation allowances and effects of changes in tax laws or rates, are reported in the interim period in which they occur. The Group’s effective income tax rate was a provision of 9.2% on loss before income taxes for the three months ended March 31, 2024 (benefit of 27.0% on loss before income taxes for the three months ended March 31, 2023). The difference in the effective income tax rate compared to the Irish corporation trading tax rate of 12.5% primarily reflects the tax impact of the impact of
amortization
of acquired intangibles and profit mix across jurisdictions, as well as the tax impact of discrete adjustments which includes our loss making jurisdictions and the fair value loss on Fox Option Liability.         
The Group do
e
s
not expect there to be any material changes to its existing
unrecognized
tax benefits over the next 12 months, due to the current position with taxing authorities. The Group regularly reviews its tax position on the basis of current law.     
The Organization for Economic
 
Co-operation
and Development (OECD) has a framework to implement a global minimum corporate tax of 15% for companies with global revenues and profits above certain thresholds (referred to as Pillar 2), with certain aspects of Pillar 2 effective January 1, 2024 and other aspects effective January 1, 2025. Certain countries in which we operate have adopted the legislation, and other countries are in the process of introducing legislation to implement Pillar 2. The Group does not expect Pillar 2 to have a material impact on its effective tax rate and continues to monitor the impact of the Pillar 2 legislation on its future financial performance.