Income tax provision (Tables)

6 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

Effective income tax rate reconciliation

The effective tax rate on pretax income reconciles to the U.S. federal statutory tax rate as follows:

	Six Months Ended June 30, 2022		Year Ended December 31, 2021
Income tax at federal statutory rate	21.0	%	21.0	%
Change in valuation allowance	14.9	%	0.1	%
Tax impact of share-based compensation	5.3	%	0.9	%
State income tax expense, net of federal income tax benefit	2.6	%	2.4	%
Non-deductible executive compensation	2.4	%	1.7	%
Foreign tax rate differences	1.7	%	1.7	%
Tax on repatriation of foreign earnings	1.4	%	4.9	%
Non-deductible acquisition costs	0.1	%	1.5	%
Sale of business (Note 6)	(18.3	%)	—
Research and development tax credit	(1.1	%)	(0.9	%)
Other	(0.3	%)	(0.2	%)
Effective tax rate	29.7	%	33.1	%