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INCOME TAXES
 9 Months Ended
Sep. 30, 2023
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
A reconciliation of the provision for income taxes using the statutory federal income tax rate to our effective income tax rate is as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
Federal statutory rate21.0 %21.0 %21.0 %21.0 %
State income taxes, net of federal benefit2.9 2.4 2.5 1.9 
Share based payment awards(0.7)(1.6)(2.5)(1.1)
Foreign tax credits(9.0)0.2 (4.8)(0.8)
Other U.S. tax credits and incentives(6.1)(6.2)(4.5)(2.3)
Foreign8.4 2.8 2.1 0.3 
Basis difference - South American restructuring program(5.9)— (1.6)— 
Other1.1 (1.7)1.3 0.2 
Effective income tax rate11.7 %16.9 %13.5 %19.2 %
During the first quarter of 2023, management made the determination that the company is no longer indefinitely reinvested with regard to the unremitted earnings of any foreign subsidiaries. The change resulted in a one-time increase to tax expense of approximately $2.0 million in the nine months ended September 30, 2023. The company remains indefinitely reinvested related to other taxable differences that may exist with regard to these subsidiaries, with the exception of our Argentina operations held for sale. During the third quarter of 2023, the company recognized a decrease to tax expense of approximately $5.5 million with regard to taxable differences related to our Argentina operations held for sale. Refer to Note 13, Restructuring for additional detail on our restructuring program to divest of our operations in Argentina.
As of September 30, 2023, we have $44.7 million of unrecognized tax benefits and related interest and penalties. It is possible the amount of unrecognized tax benefit could change in the next 12 months as a result of a lapse of the statute of limitations, new information, or settlements with taxing authorities. The total liability for unrecognized tax benefits is expected to decrease by approximately $1.3 million in the next 12 months due to the lapsing of statutes of limitations. With few exceptions, we are no longer subject to audits of U.S. federal, state and local, or non-U.S. income tax returns before 2015. We are currently under a limited Internal Revenue Service audit for the 2014 to 2017 tax years, while the 2018 and 2019 U.S. federal statute of limitations are closed.