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Income Taxes
9 Months Ended
Sep. 30, 2023
Income Tax Disclosure [Abstract]  
Income Taxes Income TaxesIn determining the quarterly provision for income taxes, management uses an estimated annual effective tax rate based on forecasted annual pre-tax income, permanent tax differences, statutory tax rates and tax planning opportunities in the various jurisdictions in which the Company operates. The effect of significant discrete items is separately recognized in the quarter(s) in which they occur. For the three month periods ended September 30, 2023 and 2022, the Company’s consolidated effective tax rates were an expense of 33.1% and 18.4%, respectively, and for the nine month periods ended September 30, 2023 and 2022 were benefits of 41.4% and 0.2%, respectively. The Company’s effective tax rate for the nine month period ended September 30, 2023 included the effects of a net tax benefit of approximately $8.8 million related to share-based payment awards and a benefit of approximately $6 million related to adjustments from finalization of the Company’s 2022 tax returns, offset, in part, by an increase in non-deductible expenses. For the nine month period ended September 30, 2022, the Company’s effective tax rate included a benefit of approximately $15 million related to adjustments resulting from finalization of the Company’s 2021 tax returns and a net tax benefit of approximately $0.9 million related to the vesting of share-based payment awards.