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Income tax provision (Tables)

3 Months Ended

Mar. 31, 2023

Income Tax Disclosure [Abstract]

Effective income tax rate reconciliation

The effective tax rate on pretax income reconciles to the U.S. federal statutory tax rate as follows:

						Quarter Ended March 31, 2023						Year Ended December 31, 2022
Income tax at federal statutory rate						21.0		%				21.0		%
Change in valuation allowance						149.5		%				7.2		%
Tax impact of share-based compensation						22.3		%				3.2		%
Acquisition-related items						9.0		%				0.1		%
Payables and receivables for prior year tax returns						4.0		%				(0.3		%)
Tax on repatriation of foreign earnings						2.7		%				2.2		%
Foreign tax rate differences						2.5		%				1.9		%
Non-deductible executive compensation						2.2		%				2.2		%
State income tax expense, net of federal income tax benefit						1.1		%				2.7		%
Sale of business/basis difference in assets held for sale						(149.5		%)				(15.8		%)
Change in unrecognized tax benefits, including interest and penalties						(5.8		%)				0.2		%
Return to provision adjustments						—						(1.9		%)
Research and development tax credit						(1.6		%)				(1.2		%)
Other						0.1		%				0.8		%
Effective tax rate						57.5		%				22.3		%

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- References

No definition available.

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

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