Income Taxes

3 Months Ended

Mar. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 18 — Income Taxes

The effective tax rates for the three months ended March 31, 2023 and March 31, 2022 are as follows:

	Three Months Ended
	March 31,			March 31,
	2023			2022
Effective tax rate		19.2	%		21.4	%

The decrease in effective income tax is primarily attributed to tax benefits recorded upon vesting of restricted stock units. The first quarter 2023 effective income tax rate was lower than the U.S. statutory federal tax rate for the same reason as noted above. The first quarter 2022 effective tax rate was higher than the U.S. statutory federal tax rate primarily due to foreign withholding taxes and state taxes.