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Income Taxes | 6 Months Ended
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Jun. 30, 2023
Income Taxes |
Income Taxes | 12. Income Taxes Effective Income Tax Rate Our provision for income taxes may not have the customary relationship of taxes to income. A reconciliation between the U.S. corporate income tax rate and the effective income tax rate was as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended |  | For the six months ended |
​ | ​ | June 30, | ​ | June 30, | ​
​ |  | 2023 |  | 2022 |  | 2023 |  | 2022 | ​
U.S. corporate income tax rate | ​ | 21 | % | ​ | 21 | % | ​ | 21 | % | ​ | 21 | %
Dividends received deduction | ​ | (4) |  | ​ | (1) | ​ | ​ | (16) |  | ​ | (1) | ​
Tax credits | ​ | (4) | ​ | ​ | — | ​ | ​ | (12) | ​ | ​ | (1) | ​
Impact of equity method presentation | ​ | (2) | ​ | ​ | — | ​ | ​ | (6) | ​ | ​ | — | ​
Interest exclusion from taxable income | ​ | (1) | ​ | ​ | — | ​ | ​ | (5) | ​ | ​ | — | ​
Employee compensation | ​ | — | ​ | ​ | — | ​ | ​ | (3) | ​ | ​ | — | ​
Local country permanent tax adjustments | ​ | — | ​ | ​ | — | ​ | ​ | (2) | ​ | ​ | — | ​
Foreign currency inflation | ​ | (1) | ​ | ​ | — | ​ | ​ | (2) | ​ | ​ | — | ​
Low income housing tax credit amortization | ​ | 2 | ​ | ​ | — | ​ | ​ | 8 | ​ | ​ | — | ​
Global Intangible Low-Taxed Income | ​ | — | ​ | ​ | 1 | ​ | ​ | 5 | ​ | ​ | 1 | ​
State income taxes | ​ | 1 | ​ | ​ | — | ​ | ​ | 2 | ​ | ​ | — | ​
Valuation allowance | ​ | 1 | ​ | ​ | — | ​ | ​ | 1 | ​ | ​ | — | ​
Foreign country statutory rate differential | ​ | — | ​ | ​ | — | ​ | ​ | 1 | ​ | ​ | — | ​
Effective income tax rate | ​ | 13 | % | ​ | 21 | % | ​ | (8) | % | ​ | 20 | %
​ Effects of Tax Legislation The Inflation Reduction Act of 2022 (“The Act”) was enacted by the U.S. government on August 16, 2022. The Act implements a new corporate alternative minimum tax (“CAMT”) effective January 1, 2023. We are an “Applicable Corporation,” which requires computation of the U.S. federal income tax liability under two systems, the U.S. regular corporate tax (“RCT”) and the CAMT. Although the CAMT may apply in any given year when tentative minimum tax (“TMT”) then exceeds the RCT liability, as a “prepayment” the CAMT generates a corresponding alternative minimum tax credit (“AMTC”). We made an accounting policy election in 2022 to recognize the CAMT as a current period tax expense when incurred, along with recording an offsetting AMTC related deferred tax asset. No CAMT accrual was made for the second quarter of 2023, as TMT did not exceed the calculated RCT liability.

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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480990/946-20-50-13 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//740/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-14 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-21 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 270 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482526/740-270-50-1 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 17 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-17 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482603/740-30-50-2 + Details
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