XML 22 R12.htm IDEA: XBRL DOCUMENT

Income Taxes

9 Months Ended

Sep. 30, 2021

Note 6. Income Taxes

The following table summarizes our effective tax rate for the periods presented (in thousands):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2021			2020			2021			2020
Income before income taxes	$	19,369		$	21,542		$	73,016		$	44,153
Provision for income taxes		2,701			2,104			2,558			6,323
Effective tax rate		13.9	%		9.8	%		3.5	%		14.3	%

The increase in the effective tax rate for the three months ended September 30, 2021, as compared to the same period in 2020, was primarily due to a decrease in excess tax benefits related to the exercise of non-qualified stock options. The decrease in the effective tax rate for the nine months ended September 30, 2021, as compared to the same period in 2020, was primarily due to an increase in excess tax benefits related to the exercise of non-qualified stock options.

- Definition

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