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Income Taxes
9 Months Ended
Sep. 30, 2023
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company’s effective tax rate was 23.9% of pre-tax income from continuing operations for the three and nine months ended September 30, 2023 as compared to an effective tax rate of (0.1)% and (0.3)% of pre-tax income from continuing operations for the three and nine months ended September 30, 2022, respectively.
The effective tax rate from continuing operations for the three and nine months ended September 30, 2023 was higher than the statutory federal rate of 21% primarily as a result of the impact of state income taxes. The effective tax rate for the three and nine months ended September 30, 2022 was lower than the statutory federal rate of 21% primarily as a result of the Company’s valuation allowance during the three and nine months ended September 30, 2022, substantially all of which was released during the third and fourth quarters of 2022. This was partially offset by state income taxes.