XML 37 R26.htm IDEA: XBRL DOCUMENT

Income Taxes

3 Months Ended

Mar. 31, 2021

Income Tax Disclosure [Abstract]

17.	Income Taxes

The provision for income taxes for the three months ended March 31, 2021 and 2020 reflects effective tax rates of 21.2% and 23.4%, respectively. The decrease in the effective tax rate for the three months ended March 31, 2021 was primarily attributable to the Company’s permanent deduction related to equity-based compensation.

As the Company continues to monitor tax implications of the CARES Act and other state, federal and foreign stimulus and tax legislation, we may make adjustments to our estimates and record additional amounts for tax assets and liabilities. Additionally, market disruption due to COVID-19 may affect the Company’s ability to realize our deferred tax assets. Any adjustments to our tax assets and liabilities could materially impact our provision for income taxes and our effective tax rate in the periods in which they are made.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details