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INCOME TAXES
 9 Months Ended
Sep. 30, 2021
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
For the three months ended September 30, 2021 and September 30, 2020, the Company’s income tax provision of $3.9 million and $5.5 million, respectively, on a net income before income taxes of $25.7 million and $44.8 million, respectively, calculated using the annualized effective tax rate method, was primarily due to projected tax expense in the U.S. and foreign jurisdictions that are profitable, partially offset by tax deduction from employee stock compensation as a discrete event.
For the nine months ended September 30, 2021 and September 30, 2020, the Company’s income tax benefit of $22.5 million and $12.9 million, respectively, on a net income before income taxes of $70.4 million and $48.1 million, respectively, calculated using the annualized effective tax rate method, was primarily due to tax deduction from employee stock compensation as a discrete event, partially offset by projected tax expense in the U.S. and foreign jurisdictions that are profitable.
For the three and nine months ended September 30, 2021 and September 30, 2020, in accordance with FASB guidance for interim reporting of income tax, the Company has computed its benefit (provision) for income taxes based on a projected annual effective tax rate while excluding loss jurisdictions which cannot be benefited.