XML 27 R17.htm IDEA: XBRL DOCUMENT v3.23.1
Income Taxes
 3 Months Ended
Mar. 31, 2023
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
At March 31, 2023, the Company had gross uncertain tax benefits of $183.1 million, of which $134.7 million, if recognized, would impact the effective tax rate.
The following is a reconciliation of the liability for uncertain tax positions (in millions):
Balance at December 31, 2022$174.7 
Additions for tax positions8.4 
Reductions for tax positions— 
Balance at March 31, 2023$183.1 
The additions above primarily reflect the tax positions for foreign tax planning initiatives. The Company recognizes interest and penalties accrued related to uncertain tax positions in income tax expense. The amounts recognized in income tax expense for interest and penalties during the three months ended March 31, 2023 and 2022 were not significant.
The effective tax rate for the three months ended March 31, 2023 was 19.5%, compared with 19.0% for the three months ended March 31, 2022. The higher effective tax rate in 2023 is primarily due to an increase in the foreign rate differential which reflects a greater proportion of earnings in higher tax jurisdictions.