INCOME TAXES |
9 Months Ended |
|---|---|
Sep. 30, 2021 | |
| INCOME TAXES | |
| INCOME TAXES | 14. INCOME TAXES For the three months ended September 30, 2021 and 2020, the Company utilized an effective tax rate of 40.8% and 24.1%, respectively, to calculate its provision for income taxes. The increase in the effective tax rate for the three months ended September 30, 2021 as compared to the respective prior year period was a result of an unfavorable adjustment in the current period related to a settlement of a foreign tax position. For the nine months ended September 30, 2021 and 2020, the Company utilized an effective tax rate of 35.5% and 22.2%, respectively, to calculate its provision for income taxes. The increase in the effective tax rate for the nine months ended September 30, 2021 as compared to the respective prior year period was a result of an increase in the current year related to additional withholding taxes as well as an unfavorable adjustment related to a settlement of a foreign tax position. Additionally, the effective tax rate for the nine months ending September 30, 2020 included discrete tax benefits related to the expiration of statutes of limitation and the resolution of tax audits in various foreign jurisdictions. |