XML 30 R22.htm IDEA: XBRL DOCUMENT v3.22.2.2
Income Taxes
9 Months Ended
Sep. 30, 2022
Income Tax Disclosure [Abstract]  
Income Taxes Income TaxesDuring the three months ended September 30, 2022 and 2021, the Company recognized an income tax provision of $22.1 on loss before income tax of $4,393.4 and an income tax provision of $3.7 on income before income tax of $32.1, respectively. During the nine months ended September 30, 2022 and 2021, the Company recognized an income tax provision of $48.9 on loss before income tax of $4,234.7 and $12.2 on loss before income tax of $146.9, respectively. The effective tax rate was 1.2% for the nine months ended September 30, 2022, as compared to 8.3% for the nine months ended September 30, 2021. The effective tax rate was 0.5% for the three months ended September 30, 2022, as compared to 11.5% for the three months ended September 30, 2021. The overall increase in tax expense is primarily due to the change in the mix of taxing jurisdictions in which pre-tax profits and losses were recognized and the higher mark to market gain on the private warrants. The goodwill impairment had an immaterial impact on tax expense due to the Company's existing valuation allowance and not having tax basis in the majority of the goodwill that was impaired.