XML 29 R19.htm IDEA: XBRL DOCUMENT v3.23.2
Income Taxes
 6 Months Ended
Jun. 30, 2023
Income Tax Disclosure [Abstract]  
Income Taxes

Note 11.   Income Taxes

The Company’s effective tax rate for the three and six months ended June 30, 2023 was (2.0)% and (1.4)%, respectively, compared with 1.9% and (1.1)% for the three and six months ended June 30, 2022. The difference between the provision for income taxes and the income tax determined by applying the statutory federal income tax rate of 21% principally results from income taxes on earnings from its foreign tax jurisdictions offset by losses generated in the U.S. where no benefit was recorded because the Company had fully reserved its deferred tax assets as of June 30, 2023 and December 31, 2022 and the recording of uncertain tax positions and interest expense.

As of June 30, 2023, there were $0.9 million in changes to the total amount of unrecognized tax benefits related to transfer pricing adjustments from prior year end.