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Income Taxes
 9 Months Ended
Sep. 30, 2022
Income Tax Disclosure [Abstract]  
Income Tax Disclosure [Text Block]

Note 7 — Income Taxes

 

The Company’s income tax expense of $11.6 million for the three months ended September 30, 2022, reflects an effective tax rate of 27.4%. The Company’s income tax expense of $0.3 million for the three months ended September 30, 2021, reflects an effective tax rate of 0.8%. The tax expense for the three months ended September 30, 2022, primarily relates to U.S. and foreign income taxes, and discrete items. The tax expense for the three months ended September 30, 2021 primarily relates to foreign income taxes and discrete items.

 

The Company’s income tax expense of $13.3 million for the nine months ended September 30, 2022 reflects an effective tax rate of 20.1%. The Company’s income tax expense of $0.3 million for the nine months ended September 30, 2021 reflects an effective tax rate of (11.7%). The majority of the tax expense for the nine months ended September 30, 2022 relates to U.S. and foreign income taxes, and discrete items. The majority of the tax expense for the nine months ended September 30, 2021 relates to foreign income taxes and discrete items.