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Income Taxes
 6 Months Ended
Jun. 30, 2023
Income Tax Disclosure [Abstract]  
Income Tax Disclosure [Text Block]

Note 7 — Income Taxes

 

The Company’s income tax expense of $1.5 million for the three months ended June 30, 2023 reflects an effective tax rate of 19.3%. The Company’s income tax expense of $1.3 million for the three months ended June 30, 2022 reflects an effective tax rate of 4.8%. The tax expense for the three months ended June 30, 2023 primarily relates to federal, state and foreign income taxes and discrete items. The tax expense for the three months ended June 30, 2022 primarily relates to foreign income taxes and discrete items.

 

The Company’s income tax expense of $0.1 million for the six months ended June 30, 2023 reflects an effective tax rate of 9.9%. The Company’s income tax expense of $1.8 million for the six months ended June 30, 2022 reflects an effective tax rate of 7.3%. The majority of the tax expense for the six months ended June 30, 2023 primarily relates to federal, state and foreign income taxes offset by discrete items. The majority of the tax expense for the six months ended June 30, 2022 relates to foreign income taxes and discrete items.