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Income Tax Matters | 9 Months Ended
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Sep. 30, 2023
Income Tax Disclosure [Abstract] |
Income Tax Matters | 10. Income Tax Matters The following table presents the income tax (provision) benefit by region (in millions of dollars):
|  | Quarter Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Domestic |  | $ | 0.1 |  |  | $ | (1.0 | ) |  | $ | (6.9 | ) |  | $ | 0.9 |
Foreign |  |  | (0.2 | ) |  |  | (0.1 | ) |  |  | (1.1 | ) |  |  | (1.2 | )
Total |  | $ | (0.1 | ) |  | $ | (1.1 | ) |  | $ | (8.0 | ) |  | $ | (0.3 | )
The income tax (provision) benefit for the quarters ended September 30, 2023 and September 30, 2022 was $(0.1) million and $(1.1) million, respectively, reflecting an effective tax rate of 2% and 33%, respectively. The difference between the effective tax rate and the projected blended statutory tax rate for the quarter ended September 30, 2023 was primarily due to a decrease of 30% related to Federal research and development credits, partially offset by: (i) an increase of 4% for return to provision differences and (ii) an increase of 3% related to non-deductible compensation expense. The difference between the effective tax rate and the projected blended statutory tax rate for the quarter ended September 30, 2022 was primarily due to an increase of 13% for a change in forecasted earnings and its impact on the annual effective tax rate, partially offset by a decrease of 5% for the recognition of excess book benefits from stock-based compensation. The income tax (provision) benefit for the nine months ended September 30, 2023 and September 30, 2022 was $(8.0) million and $(0.3) million, respectively, reflecting an effective tax rate of 17% and (14%), respectively. The difference between the effective tax rate and the projected blended statutory tax rate for the nine months ended September 30, 2023 was primarily due to (i) a decrease of 9% related to Federal research and development tax credits; and (ii) a decrease of 2% for return to provision differences, partially offset by: (i) an increase of 2% related to non-deductible compensation expense and (ii) an increase of 1% related to foreign withholding tax. The difference between the effective tax rate and the projected blended statutory tax rate for the nine months ended September 30, 2022 was primarily due to: (i) a decrease of 42% related to a Federal Research and Development Credit; (ii) a decrease of 11% for the recognition of excess book benefits from stock-based compensation; (iii) a decrease of 4% related to the valuation allowance for certain state net operating losses; and (iv) a decrease of 2% related to unrecognized tax benefits, including interest and penalties, partially offset by an increase related to permanent items of 21%, including non-deductible compensation expense and foreign withholding tax. Our gross unrecognized benefits relating to uncertain tax positions were $6.3 million and $5.0 million at September 30, 2023 and December 31, 2022, respectively, of which, $6.3 million and $5.0 million would be recorded through our income tax provision and thus, impact the effective tax rate at September 30, 2023 and December 31, 2022, respectively, if the gross unrecognized tax benefits were to be recognized. We do not expect our gross unrecognized tax benefits to significantly change within the next 12 months.

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- 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 Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480990/946-20-50-13 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//740/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-14 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-21 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 270 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482526/740-270-50-1 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 17 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-17 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482603/740-30-50-2 + Details
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