XML 26 R16.htm IDEA: XBRL DOCUMENT v3.22.2
Income Taxes
 6 Months Ended
Jun. 30, 2022
Income Tax Disclosure [Abstract]  
Taxes Income Taxes
For interim periods, accounting standards require that income tax expense be determined by applying the estimated annual effective income tax rate to year-to-date results, unless this method does not result in a reliable estimate of year-to-date income tax expense. Each period, the income tax accrual is adjusted to the latest estimate and the difference from the previously accrued year-to-date balance is adjusted to the current quarter.
For the six months ended June 30, 2022, our income tax provision was $10.4 million as compared to a benefit of $13.5 million in the same period in 2021. Our effective tax rate for the six months ended June 30, 2022 and 2021 was 25.0% and 25.4%, which varied from the U.S. federal statutory tax rate of 21.0% primarily due to the effects of state taxes and nondeductible compensation.