INCOME TAXES

3 Months Ended

Mar. 31, 2024

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES

The effective tax rate for the three months ended March 31, 2024 and 2023 was approximately 73% and 19%, respectively. The effective tax rate increase year over year is primarily due to the impact of discrete items, primarily unrecognized tax benefits, relative to (loss) income before taxes. The difference between our effective tax rate as compared to the U.S. statutory federal tax rate of 21% is primarily due to the impact of state and foreign income taxes and discrete items, primarily unrecognized tax benefits.