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Income taxes

3 Months Ended

Mar. 31, 2021

Income taxesOur estimated annual effective tax rate is about 14%, which does not include discrete tax items. This differs from the 21% U.S. statutory corporate tax rate due to the effect of U.S. tax benefits.

Provision for income taxes is based on the following:


	For Three Months Ended
	March 31,
	2021			2020
Taxes calculated using the estimated annual effective tax rate	$	275		$	166
Discrete tax items	(89)			(116)
Provision for income taxes	$	186		$	50

Effective tax rate	10		%	4		%

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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