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Income Taxes
6 Months Ended
Jun. 30, 2023
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
June 30,
Six Months Ended
June 30,
(In millions)2023202220232022
Income tax provision$181 $137 $305 $235 
Effective income tax rate20.7 %22.2 %19.2 %18.2 %
The income tax provision as a percentage of income before income taxes and (loss) income from investments in unconsolidated affiliates was 20.7% and 22.2% for the three months ended June 30, 2023 and 2022, respectively, and 19.2% and 18.2% for the six months ended June 30, 2023 and 2022, respectively.
The Company’s potential liability for unrecognized tax benefits before interest and penalties was approximately $84 million at June 30, 2023. 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, audit settlements, and the lapse of the statutes of limitations in various jurisdictions.
As of June 30, 2023, the Company’s U.S. federal income tax return for 2022, and tax returns in certain states and foreign jurisdictions for 2015 through 2022, remain subject to examination by taxing authorities.