Income Tax Expense

6 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

Income Tax Expense

NOTE 11. INCOME TAX EXPENSE

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2022			2021			2022			2021
Earnings from continuing operations before income taxes	$	67.2		$	74.3		$	126.6		$	124.0
Income tax expense		15.0			19.2			30.0			31.4
Effective tax rate		22.3	%		25.8	%		23.7	%		25.3	%

The effective tax rates for the second quarter and first six months of 2022 were lower compared to the same periods in 2021 primarily due to a reduction in our valuation allowance for capital loss carryforwards recorded in the second quarter of 2022.

It is reasonably possible that the amount of unrecognized tax benefits could significantly increase or decrease within the next twelve months. However, an estimate of the range of reasonably possible outcomes cannot be reliably made at this time. Changes to unrecognized tax benefits could result from the expiration of statutes of limitations, the completion of ongoing examinations, or other unforeseen circumstances.