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Income taxes
 3 Months Ended
Mar. 31, 2023
Income Tax Disclosure [Abstract]  
Income taxes Income taxes
The estimated effective annual tax rate for the years ended December 31, 2023 and 2022, excluding the impact of discrete adjustments, was (13)% and 25%, respectively. The decrease in the estimated effective annual tax rate is primarily due to a valuation allowance charge. The Company recorded a discrete tax expense of $0.0 million for the three months ended March 31, 2023, and $0.4 million for the three months ended March 31, 2022. The discrete tax expense in 2023 was due to share-based compensation activity which was entirely offset by a valuation allowance charge. The net discrete expense in 2022 was primarily due to share-based compensation activity and return to provision adjustments.
The Company establishes valuation allowances for deferred income tax assets in accordance with U.S. GAAP, which provides that such valuation allowances shall be established unless realization of the income tax benefits is more likely than not. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. At each reporting period, the Company considers the scheduled reversal of deferred tax liabilities and assets, available taxes in carryback periods, tax planning strategies and projected future taxable income in making this assessment.
In 2022, the Company determined that it was more likely than not that certain deferred tax assets would not be realized due to reductions in estimates of future profitability and disclosure related to substantial doubt about the Company's ability to continue as a going concern. Accordingly, the Company recorded an additional valuation allowance charge of $65.2 million in calculating the estimated annual tax rate for the year ended December 31, 2023.