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INCOME TAXES
 6 Months Ended
Jun. 30, 2022
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
Income before income taxes and income tax expense is as follows (dollar amounts in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2022202120222021
Income (loss) before income taxes:
   Domestic$23,798 $25,863 $30,380 $41,795 
   Foreign(1,791)(215)(1,079)(3,424)
      Total income before income taxes$22,007 $25,648 $29,301 $38,371 
Income tax expense$2,131 $6,567 $2,597 $8,921 
Effective tax rate10 %26 %9 %23 %
The Company’s income tax expense represents the estimated annual effective tax rate applied to the year-to-date domestic operating results adjusted for certain discrete tax items. The Company’s effective tax rates for the three and six months ended June 30, 2022 include benefits related to stock-based compensation, a first quarter Skyepharma milestone payment and a fair value adjustment for Flexion contingent consideration, partially offset by non-deductible executive compensation costs and a valuation allowance against non-U.S. results. The Company’s effective tax rates for the three and six months ended June 30, 2021 include benefits related to stock-based compensation offset by non-deductible executive compensation costs and valuation allowances recorded against deductible capital losses and non-U.S. results.