XML 31 R21.htm IDEA: XBRL DOCUMENT v3.22.2.2
Income Taxes
9 Months Ended
Sep. 30, 2022
Income Tax Disclosure [Abstract]  
Income Taxes
Our interim effective tax rates reflect the estimated annual effective tax rates for 2022 and 2021, adjusted for tax expense associated with certain discrete items. The effective tax rates for the three months ended September 30, 2022 and 2021 were 15.6% and 19.2%, respectively. The effective tax rate for both the nine months ended September 30, 2022 and 2021 was 17.9%. These effective tax rates differ from the federal statutory tax rate of 21% primarily due to increased amortization of excess deferred federal income tax liabilities, as specified in the TCJA, tax credits, state income taxes, and other permanent book-to-tax differences. These adjustments have a relative impact on the effective tax rate proportionally to pretax income or loss.
The decrease in the three month effective tax rate of 3.6% in 2022 compared to 2021 is primarily attributed to the Pennsylvania tax rate change and rate differential, and increased amortization of excess deferred federal income tax liabilities.
There were no material changes recorded in 2022 to our uncertain tax positions recorded as of December 31, 2021.