XML 23 R12.htm IDEA: XBRL DOCUMENT v3.22.2
INCOME AND MINING TAXES
6 Months Ended
Jun. 30, 2022
Income Tax Disclosure [Abstract]  
INCOME AND MINING TAXES INCOME AND MINING TAXESThe Company’s consolidated effective income tax rate was 13.6% for the first six months of 2022 compared to 6.0% for the first six months of 2021. The primary driver of the change in the effective rate is foreign currency fluctuations, particularly with the devaluation of the Turkish Lira relative to the USD, as well as changes in book income in foreign jurisdictions with varying tax rates. The Company’s statutory tax rate for the period is 27.0%. The effective rate differs from the statutory rate primarily due to foreign exchange and jurisdictional mix of earnings with different tax rates.