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Income Taxes
 9 Months Ended
Sep. 30, 2021
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
We recorded an income tax expense of $6.8 million and $0.3 million for the three months ended September 30, 2021 and 2020, respectively. The increase is primarily due to improved operational results from foreign operations. For the nine months ended September 30, 2021 and 2020, we recorded an income tax benefit of $43.8 million and $1.6 million, respectively. This increase is primarily due to a discrete tax benefit of $49.8 million in the second quarter of 2021 related to the recognition of a foreign deferred tax asset for the future tax benefit we expect to realize for deductible costs related to our historical investment in Nordural Helguvik ehf (“Helguvik”). In the second quarter of 2021, it became apparent this deferred tax asset would be realized in the foreseeable future. Additionally, we concluded this deferred tax asset was more likely than not to be realized prior to expiration and recorded the tax benefit in the second quarter. We have not changed our judgment in the current quarter with respect to other valuation allowances previously recorded.
Our income tax benefit or expense is based on an annual effective tax rate forecast, including estimates and assumptions that could change during the year. The application of the accounting requirements for income taxes in interim periods, after consideration of our valuation allowance, causes a significant variation in the typical relationship between income tax expense/benefit and pre-tax accounting income/loss.
As of September 30, 2021, all of Century's U.S. and certain foreign deferred tax assets, net of deferred tax liabilities, continue to be subject to a valuation allowance.