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Income Taxes
 9 Months Ended
Sep. 30, 2022
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The effective tax rates were 21.0% and 26.4% for the three months ended September 30, 2022 and 2021, respectively, and 22.7% and 24.6% for the nine months ended September 30, 2022 and 2021, respectively. There were net discrete tax benefits of $3,644 and $1,424 for the three months ended September 30, 2022 and 2021, respectively, and $6,806 and $5,849 for the nine months ended September 30, 2022 and 2021, respectively. The 2022 discrete items include a reduction in taxes as a result of filing amended returns to obtain foreign tax incentives for capital investments in prior years and to changes in tax position agreed to with tax authorities for prior year audits. The 2022 benefit is partly offset by the impact from tax deductions for equity-based compensation that were less than the compensation expense recognized for books. The 2021 discrete items relate primarily to tax deductions for equity based compensation that exceeded book deductions and to provision to return adjustments.
The Company accounts for its uncertain tax positions in accordance with the accounting standards for income taxes. The Company classifies interest and penalties related to unrecognized tax benefits as a component of the provision for income taxes.
The following is a summary of the activity of the Company’s unrecognized tax benefits for the nine months ended September 30, 2022 and 2021:
Nine Months Ended September 30,
20222021
Balance, beginning of period$19,209 $14,706 
Change in prior period positions(603)— 
Additions for tax positions in current period— 4,000 
Foreign currency translation865 92 
Balance, end of period$19,471 $18,798 
The liability for uncertain tax benefits is included in other long-term liabilities and deferred income taxes at September 30, 2022 and December 31, 2021. Substantially all of the liability for uncertain tax benefits related to various federal, state and foreign income tax matters would benefit the Company's effective tax rate, if recognized.