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Income Taxes
9 Months Ended
Sep. 30, 2021
Income Tax Disclosure [Abstract]  
Income Taxes

16.

Income Taxes

The provision for income taxes for the three months ended September 30, 2021 and 2020 reflects effective tax rates of 20.4% and 19.9%, respectively, and 23.9% and 22.4% for the nine months ended September 30, 2021 and 2020, respectively. The increase in

the effective tax rate for the three and nine months ended September 30, 2021 was primarily attributable to the Company’s disallowance of certain compensation-related deductions and the impact of U.S. and U.K. tax legislation changes in the 2020 year.

As the Company continues to monitor the implications of potential tax legislation in each of its jurisdictions, the Company may adjust its estimates and record additional amounts for tax assets and liabilities. Any adjustments to the Company’s tax assets and liabilities could materially impact its provision for income taxes and its effective tax rate in the periods in which they are made.