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Income Taxes
 3 Months Ended
Mar. 31, 2022
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company’s income tax provision and effective income tax rate were as follows:
Three Months Ended
March 31,
(In millions)20222021
Income tax provision$98 $18 
Effective income tax rate14.5 %5.6 %
The income tax provision as a percentage of income before income taxes and income from investments in unconsolidated affiliates was 14.5% and 5.6% for the three months ended March 31, 2022 and 2021, respectively. The effective income tax rates for both the three months ended March 31, 2022 and 2021 include discrete tax benefits from subsidiary restructurings and equity compensation related tax benefits.
The Company’s potential liability for unrecognized tax benefits before interest and penalties was approximately $112 million at March 31, 2022. The Company believes it is reasonably possible that the liability for unrecognized tax benefits may decrease by up to $7 million over the next twelve months as a result of possible closure of tax audits, potential audit settlements, and the lapse of the statutes of limitation in various jurisdictions.
As of March 31, 2022, the Company’s U.S. federal income tax return for 2021, and tax returns in certain states and foreign jurisdictions for 2013 through 2021, remain subject to examination by taxing authorities.