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Income Taxes
 9 Months Ended
Sep. 30, 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
September 30,		Nine Months Ended
September 30,
(In millions)2022202120222021
Income tax provision$147 $54 $382 $300 
Effective income tax rate22.5 %11.3 %19.7 %23.7 %
The income tax provision as a percentage of income before income taxes and income (loss) from investments in unconsolidated affiliates was 22.5% and 11.3% for the three months ended September 30, 2022 and 2021, respectively, and was 19.7% and 23.7% for the nine months ended September 30, 2022 and 2021, respectively.
The effective income tax rate for the three months ended September 30, 2021 included discrete tax benefits from subsidiary restructurings and changes in uncertain tax positions.
The effective income tax rate for each of the nine months ended September 30, 2022 and 2021 includes discrete tax benefits from subsidiary restructurings and equity compensation related tax benefits. The effective income tax rate for the nine months ended September 30, 2021 also included $134 million of income tax expense attributed to the revaluation of certain net deferred tax liabilities, primarily related to intangible assets and investments in joint ventures recognized at fair value in connection with the acquisition of First Data, reflecting the effect of enacted corporate income tax rate changes in the United Kingdom (tax rate increase from 19% to 25% starting in 2023) and Argentina (tax rate increase from 25% to 35%).
The Company’s potential liability for unrecognized tax benefits before interest and penalties was approximately $108 million at September 30, 2022. The Company believes it is reasonably possible that the liability for unrecognized tax benefits may decrease by up to $5 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 September 30, 2022, the Company’s U.S. federal income tax return for 2021, and tax returns in certain states and foreign jurisdictions for 2015 through 2021, remain subject to examination by taxing authorities.