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Income Taxes (Tables)

9 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

Components of income tax expense (benefit)

The following table presents the Company’s provision (benefit) for income taxes reflected as a component of income (loss):

			Three Months Ended September 30,																		Nine Months Ended September 30,
			2022									2021									2022									2021
Total income tax expense (benefit)			$	5,068								$	237								$	31,537								$	11,416
Effective tax rate (ETR)			20.2		%	(1)						6.6		%	(2)						108.9		%	(3)						21.0		%	(4)

(1) Lower than the U.S. federal statutory income tax rate of 21% primarily due to the impact of discrete items, partially offset by state taxes.

(2) Lower than the U.S. federal statutory income tax rate of 21% primarily due to the impact of the effect of foreign operations and discrete items, partially offset by state taxes.

(3) Higher than the U.S. federal statutory income tax rate of 21%, primarily due to the impact of deconsolidation of insurance subsidiaries for tax as a result of the WP Transaction.

(4) Equal to the U.S. federal statutory income tax rate of 21% due to the impact of state taxes offset by other discrete items.

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- References

No definition available.

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319

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