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Income Taxes
 3 Months Ended
Mar. 31, 2022
Income Taxes  
Income Taxes

12. Income Taxes

The Company’s effective tax rates on pre-tax income were 19.0% and 10.4% for the three months ended March 31, 2022 and 2021. The increase in the Company’s effective tax rate compared to the corresponding period in the prior year was primarily due to the sale of the Company's Business Solutions business, discrete benefits in the prior period not recurring in the current period, and the Company's decision to suspend its operations in Russia and Belarus. The sale of the Company's Business Solutions business is included in the Company's estimated annual effective rate, the ongoing effects of which are expected to continue throughout the year.

 

Unrecognized tax benefits are reflected in Income taxes payable in the Condensed Consolidated Balance Sheets. The total amount of unrecognized tax benefits as of March 31, 2022 and December 31, 2021 was $373.1 million and $376.3 million, respectively, including interest and penalties.

 

The Company’s tax filings are subject to examination by U.S. federal, state, and various non-United States jurisdictions. The Internal Revenue Service is currently examining the Company’s United States consolidated income tax returns for 2017 and 2018. The statute of limitations for the U.S. federal returns for 2017 and 2018 has been extended to April 4, 2023.