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Income Taxes
 6 Months Ended
Jun. 30, 2023
Income Tax Disclosure [Abstract]  
Income Taxes
(11)
Income Taxes

The Company’s effective tax rates for the three and six months ended June 30, 2023 were 1.2% and 3.2%, respectively. The goodwill impairment relating to the electronics and general metal finishing reporting units of MSD and the equipment solutions reporting unit of PSD was considered non-deductible goodwill for tax purposes and therefore no tax benefit was recorded related to the goodwill impairment. The tax effect of the impairment of the intangible assets was discretely recorded in its entirety during the three months ended June 30, 2023. The Company’s tax benefit of $22 for the three months ended June 30, 2023 and $59 for the six months ended June 30, 2023, was primarily due to the loss from operations and impairment of intangible assets for these periods. The Company’s effective tax rate for the three and six months ended June 30, 2023 was lower than the U.S. statutory tax rate primarily due to the tax benefit related to the impairment of intangible assets.

The Company's effective tax rates for the three and six months ended June 30, 2022 were 17.0% and 16.6%, respectively. The Company's effective tax rates for the three and six months ended June 30, 2022 were lower than the U.S. statutory tax rate mainly due to the U.S. deduction for foreign derived intangible income and the geographic mix of income earned by the Company's international subsidiaries being taxed at rates lower than the U.S. statutory tax rate, offset by the U.S. global intangible low-taxed income inclusion.