XML 28 R19.htm IDEA: XBRL DOCUMENT v3.23.2
Note 9 - Income Taxes
 6 Months Ended
Jun. 30, 2023
Notes to Financial Statements  
Income Tax Disclosure [Text Block]

9. Income Taxes:

 

Our effective tax rate for the three and six months ended June 30, 2023 was 23.8% and 25.4% compared to the effective tax rate for the three and six months ended June 30, 2022 of 19.2% and 17.9%. The effective tax rate for the three months ended June 30, 2023 was higher than the effective tax rate for the three months ended June 30, 2022 primarily due to lower tax benefits from equity compensation in the current period. The effective tax rate for the six months ended June 30, 2023 was higher than the effective tax rate for the six months ended June 30, 2022 primarily due to a 2022 tax rate benefit in connection with the sale of our environmental health and safety business for which a benefit was recognized for the difference between book and tax basis of our investment. In addition, the tax rate for the six months ended June 30, 2023 was higher than the prior period due to tax charges incurred in structuring the Energy sale completed in the first quarter. The difference between statutory tax rates and our effective tax rate is primarily due to state and local taxes, partially offset by tax benefits attributable to equity compensation.