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Income Taxes
 9 Months Ended
Sep. 30, 2023
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Our income tax expense and resulting effective tax rate on income from continuing operations are based upon the estimated annual effective tax rates applicable for the respective periods adjusted for the effect of items required to be treated as discrete in the interim periods. This estimated annual effective tax rate is affected by the relative proportions of revenue and income before taxes in the jurisdictions in which we operate. Based on the geographical mix of earnings, our annual effective tax rate fluctuates based on the portion of our profits earned in each jurisdiction. Additionally, in accordance with discontinued operations reporting requirements, income tax expense for the current and prior periods presented have been adjusted to reflect only the activity of continuing operations. This presentation requires removing all elements of income tax expense associated with discontinued operations entities as well as their indirect impact on the overall income tax provision.

The effective tax rates for the quarters ended September 30, 2023 and 2022 were 63.9% and 25.4%, respectively. The higher effective tax rate for the quarter ended September 30, 2023 is primarily driven by the impact of the second quarter 2023 impairment of non-deductible goodwill on the annual effective tax rate and an increase in the valuation allowance in the current quarter on certain foreign net operating losses.

The effective tax rates for the nine months ended September 30, 2023 and 2022 were 59.8% and 23.4%, respectively. The higher effective tax rate for the nine months ended September 30, 2023 is primarily driven by impairment of non-deductible goodwill, valuation allowance on certain foreign net operating losses, and higher tax rates in most foreign jurisdictions partially offset by a tax benefit related to share-based payment awards. The effective tax rate for the nine months ended September 30, 2022 is primarily the result of a legal entity conversion in Taiwan, an intercompany sale of assets, and favorable foreign currency effects on dividends, partially offset by higher tax rates in most foreign jurisdictions.