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Supplemental Information | 6 Months Ended
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Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Supplemental Information | Supplemental Information Impairment and Other Losses The Company recognized a charge of $875 for the six months ended June 30, 2021 to reduce the carrying value of two of its right-of-use lease assets and accelerate the operating expenses of one of its right-of-use lease assets. These right-of-use lease assets related to three agencies within its Integrated Networks - Group B reportable segment. The company recognized an impairment of goodwill of $13,382 for the three and six months ended June 30, 2020. See Note 6 of the Notes to the Unaudited Condensed Consolidated Financial Statements included herein for additional information regarding the impairment of right-of-use lease assets and losses. Income Taxes Our tax provision for interim periods is determined using an estimated annual effective tax rate, adjusted for discrete items arising in interim periods. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law. The CARES Act includes provisions relating to delaying certain payroll tax payments, refundable payroll tax credits, net operating loss carryback periods, modifications to the net interest deduction limitations and technical corrections to the tax depreciation methods for qualified improvement property. The tax law changes in the CARES Act did not have a material impact on the Company’s income tax provision. The Company had an income tax expense for the three months ended June 30, 2021 of $1,387 (on a pre-tax income of $15,875 resulting in an effective tax rate of 8.7%) compared to an income tax benefit of $7,923 (on pre-tax loss of $4,619 resulting in an effective tax rate of 171.5%) for the three months ended June 30, 2020. The effective tax rate of 8.7% for the three months ended June 30, 2021 was primarily due to minimal tax expense recognized on U.S. earnings as a result of being subject to a valuation allowance. The effective tax rate of 171.5% for the three months ended June 30, 2020 was primarily driven by the benefit of losses particularly in the U.S. and the profits in foreign jurisdictions subject to valuation allowances. The Company had an income tax expense for the six months ended June 30, 2021 of $2,689 (on a pre-tax income of $27,171 resulting in an effective tax rate of 9.9%) compared to income tax expense of $5,577 (on pre-tax income of $10,674 resulting in an effective tax rate of 52.2%) for the six months ended June 30, 2020. The effective tax rate of 9.9% for the six months ended June 30, 2021 was primarily due to minimal tax expense recognized on U.S. earnings as a result of being subject to a valuation allowance. The effective tax rate of 52.2% for the six months ended June 30, 2020 was primarily driven by the base erosion and anti-abuse tax (“BEAT”), the related valuation allowances on certain foreign jurisdictions, and the jurisdictional mix of earnings.

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