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Income Taxes
3 Months Ended
Mar. 31, 2021
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Our provision for income taxes on a consolidated basis was $76.3 million for the three months ended March 31, 2021 as compared to $51.2 million for the three months ended March 31, 2020. The increase of $25.1 million is primarily related to the corresponding increase in our consolidated pre-tax book income. Our effective tax rate decreased to 22.1% for the three months ended March 31, 2021 from 22.8% for the three months ended March 31, 2020 primarily resulting from the release of valuation allowance.

Our effective tax rate for the three months ended March 31, 2021 was not significantly different than the U.S. federal statutory tax rate of 21.0%.

As of March 31, 2021, the company had gross unrecognized tax benefits of $166.8 million; a net decrease of $1.7 million was recorded for the three months ended March 31, 2021. The net decrease of $1.7 million primarily resulted from an accrual of gross unrecognized tax benefits of $3.1 million and a release of $4.8 million of gross unrecognized tax benefits primarily related to the expiration of statute of limitations in various tax jurisdictions.

The CARES Act has not had, nor is it expected to have, a significant impact on our effective tax rate for 2021.