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Income Taxes
 9 Months Ended
Sep. 30, 2022
Income Tax Disclosure [Abstract]  
Income Taxes
11. Income Taxes
Our income tax (benefit) provision and effective income tax rates, including the effects of period-specific events, were:
  
Three months ended
September 30,
Nine months ended
September 30,
(dollars in thousands)
2022
2021
2022
2021
Income tax (benefit) provision$(1,576)$2,517 $(5,993)$4,946 
Effective income tax rate13.2 %28.9 %19.9 %27.9 %
During the six months ended June 30, 2022, we utilized the discrete effective tax rate method, as allowed by ASC 740-270-30-18, Income Taxes—Interim Reporting, to calculate our interim income tax provision. The discrete method is applied when the application of the estimated annual effective tax rate is impractical because it is not possible to reliably estimate the annual effective tax rate. The discrete method treats the year-to-date period as if it was the annual period and determines the income tax expense or benefit on that basis. We believe that, at this time, the use of this discrete method is no longer more appropriate than the annual effective tax rate method.
The decrease in our effective income tax rate for the three and nine months ended September 30, 2022 when compared to the same periods in 2021 was primarily due to the effect of year-to-date losses relative to our forecasted permanent items, including foreign-derived intangible income deduction not generated in the prior year. Furthermore, the 2022 effective income tax rate was negatively impacted by expenses attributable to stock based compensation.