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INCOME TAXES

3 Months Ended

Mar. 31, 2021

INCOME TAXES

INCOME TAXES

NOTE 4.    INCOME TAXES

The following table summarizes tax expense and the effective tax rate for our income from continuing operations:

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​	​	​	​	​	​	​	​
​	​	Three Months Ended March 31,					​
​		2021			2020		​
Income from continuing operations, before income taxes	​	$	43,675	​	$	22,298	​
Provision for income taxes	​	$	5,284	​	$	3,900	​
Effective tax rate	​	​	12.1	%	​	17.5	%

​

The Company’s effective tax rates differ from the U.S. federal statutory rate of 21% for the three months ended March 31, 2021 and 2020, respectively, primarily due to the benefit of earnings in foreign jurisdictions which are subject to lower tax rates, partially offset by net U.S. tax on foreign operations and withholding taxes. The effective tax rate for the first three months of 2021 was lower than the same period in 2020 primarily due to the mix of discrete events between the two periods.

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

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