Income taxes	3 Months Ended
Mar. 31, 2021
Income taxes
Income taxes	13. Income taxes The effective tax rate of the Company was 22.0% for the three months ended March 31, 2021 compared to 11.4% for the three months ended March 31, 2020. The three months ended March 31, 2021 includes a $621 deferred tax adjustment related to prior periods and the Company’s frozen pension plan. Excluding this adjustment, the effective tax rate would be 16.9%, an increase from the year ago period's 11.4% due to a lower proportion of tax exempt income recognized in the first quarter of 2021 when compared to the same period in 2020. Before tax investment tax credits amounted to $270 compared to before tax investment tax credits and other credits of $273 for the same period last year.

- 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 + Details