XML 30 R14.htm IDEA: XBRL DOCUMENT v3.23.2
Income Taxes
 6 Months Ended
Jun. 30, 2023
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
We determine our income tax provision for interim periods using an estimate of our annual effective tax rate adjusted for discrete items occurring during the periods presented. The primary difference between our effective tax rate and the federal statutory rate is the full valuation allowance we have established on our federal, state and foreign net operating losses and credits. We recorded income tax benefits of $11.2 million and $21.1 million for the three and six months ended June 30, 2023, respectively, and income tax provisions of $2.7 million and $3.8 million for the three and six months ended June 30, 2022, respectively.
The income tax benefits recorded for the three and six months ended June 30, 2023 were primarily driven by the pre-tax losses generated during the periods, partially offset by changes in our valuation allowance. The income tax provisions recorded for the three and six months ended June 30, 2022 were primarily driven by the income generated during the periods, partially offset by changes in our valuation allowance. All periods include the effects of the capitalization and amortization of research and development expenses as required by the 2017 Tax Cuts and Jobs Act.
We are subject to taxation in the U.S. and various other state and foreign jurisdictions. As we have net operating loss carryforwards for U.S. federal and state jurisdictions, the statute of limitations is open for all tax years. For material foreign jurisdictions, the tax years open to examination include the years 2018 and forward.