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Income Taxes

3 Months Ended

Mar. 31, 2021

Income Tax Disclosure [Abstract]

6. Income Taxes

We estimate our annual effective tax rate to be 21.4% for the full year 2021, which differed from the U.S. federal statutory rate due to state and foreign income taxes, nondeductible executive compensation, and increases to unrecognized tax benefits offset by federal research tax credits generated. Our negative effective tax rate of 90.1% for the three months ended March 31, 2021 was due to excess tax benefits recognized for employee share-based compensation.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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