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INCOME TAX | 9 Months Ended
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Sep. 30, 2023
INCOME TAX |
INCOME TAX | NOTE 4. INCOME TAX The following table summarizes tax expense and the effective tax rate for our income from continuing operations: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30, | ​ | Nine Months Ended September 30, | ​
​ |  | 2023 |  | 2022 |  | 2023 |  | 2022 | ​
Income from continuing operations, before income tax | ​ | $ | 34,525 | ​ | $ | 86,512 | ​ | $ | 106,263 | ​ | $ | 186,341 | ​
Provision for income tax | ​ | $ | 874 | ​ | $ | 11,639 | ​ | $ | 13,405 | ​ | $ | 29,795 | ​
Effective tax rate | ​ | ​ | 2.5% | ​ | ​ | 13.5% | ​ | ​ | 12.6% | ​ | ​ | 16.0% | ​
​ Our effective tax rates differ from the U.S. federal statutory rate of 21% for the three and nine months ended September 30, 2023 and 2022, primarily due to the benefit of earnings in foreign jurisdictions which are subject to lower tax rates, as well as tax credits, partially offset by net U.S. tax on foreign operations. The effective tax rate for the three and nine months ended September 30, 2023 was lower than the same periods in 2022 primarily due to the greater impact of beneficial discrete items primarily related to tax strategies we implemented in the three months ended September 30, 2023 relative to the beneficial discrete items recorded in the three months ended September 30, 2022.

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