Income Taxes

9 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

Income Taxes

NOTE H - Income Taxes

The effective tax rate for the third quarter of 2022 was 21.5% compared to 21.9% for the third quarter of 2021. The effective tax rate for the first nine months of 2022 was 21.8% compared to 22.4% for the same period of 2021. The lower effective tax rate in the third quarter and first nine months of 2022 was primarily due to the change in mix of income generated in jurisdictions with lower tax rates in 2022 as compared to 2021.