The following table compares our income tax expense and effective tax rates for the three and nine months ended December 31, 2020 and 2019:

	Three Months Ended December 31,						Nine Months Ended December 31,
(Dollars in thousands)	2020			2019			2020			2019
Income tax expense	$	182		$	95		$	311		$	161
Effective tax rate		(9.6	)%		(3.8	)%		8.7	%		(2.3	)%

For the three months ended December 31, 2020, the effective tax rate was different than the statutory tax rate due primarily to the recognition of net operating losses that were offset by increased valuation allowance in the U.S, certain foreign and state tax effects and other U.S. permanent book to tax differences. For the nine months ended December 31, 2020, the effective tax rate was different than the statutory tax rate due primarily to the utilization of net operating losses that were offset by decreased valuation allowance in the U.S, certain foreign and state tax effects and other U.S. permanent book to tax differences. For the three and nine months ended December 31, 2019, the effective tax rate was different than the statutory rate due primarily to the recognition of net operating losses in the U.S. and certain foreign jurisdictions that were offset by increased valuation allowance, certain foreign and state tax effects and other U.S. permanent book to tax differences.

Because of our losses in prior periods, we have recorded and maintain a valuation allowance offsetting substantially all of our deferred tax assets in the U.S. and certain foreign jurisdictions, as management believes that it is more likely than not that we will not realize the benefits of these deductible differences. The ultimate realization of deferred tax assets depends on the generation of future taxable income during the periods in which those temporary differences are deductible.

On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). The CARES Act provides, among other provisions, for the deferral of the employer-paid portion of social security taxes through the end of 2020, with 50% of the deferred amount due December 31, 2021 and the remaining 50% due December 31, 2022.