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Income Taxes
 9 Months Ended
Sep. 30, 2021
Income Tax Disclosure [Abstract]  
Income Taxes
6. Income Taxes
We estimate our annual effective tax rate to be 27.8% 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 positive effective tax rate of 7.7% for the nine months ended September 30, 2021 was due to excess tax benefits recognized for employee share-based compensation and a one-time tax benefit related to the revaluation of our U.K. net operating loss deferred tax asset resulting from the increase in the U.K. corporate tax rate from 19% to 25% effective April 2023.
We operate in various jurisdictions outside of the U.S., many of which are enacting Anti-Tax Avoidance Directive (ATAD) laws that may impact our ability to deduct certain costs, which could potentially affect our estimated annual effective tax rate. We have made certain estimations and assumptions in determining the estimated annual effective tax rate, including the impact of these laws, the final application of which may differ from our estimates.