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Income Taxes
 9 Months Ended
Sep. 30, 2023
Income Taxes  
Income Taxes

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15.  Income Taxes

For the three months ended September 30, 2023, we recorded an income tax expense of $96 million on pre-tax income of $66 million compared to an income tax benefit of $7 million on pre-tax loss of $222 million for the three months ended September 30, 2022. Our effective income tax rate was 144% and 3.2% for the three months ended September 30, 2023 and 2022, respectively.

For the three months ended September 30, 2023, the effective tax rate was higher than the statutory federal rate of 21%, for corporations, primarily due to partnership loss for which there was no tax benefit as such losses are allocated to the partners and from changes in the valuation allowance.  For the three months ended September 30, 2022, the effective

tax rate was lower than the statutory federal rate of 21%, for corporations, primarily due to partnership loss for which there was no tax benefit as such losses are allocated to the partners and from changes in the valuation allowance.

For the nine months ended September 30, 2023, we recorded an income tax expense of $82 million on pre-tax loss of $725 million compared to an income tax expense of $93 million on pre-tax income of $476 million for the nine months ended September 30, 2022. Our effective income tax rate was (11.2%) and 19.5% for the nine months ended September 30, 2023 and 2022, respectively.

For the nine months ended September 30, 2023 and 2022, the effective tax rate was lower than the statutory federal tax rate of 21%, for corporations, primarily due to partnership loss for which there was no tax benefit as such losses are allocated to the partners and from changes in the valuation allowance.