Income Taxes

9 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

Income Tax Disclosure

Income Taxes

The effective income tax rate for the three months ended September 30, 2022 and 2021 was 27.1% and 27.0%, respectively. The rate for the three months ended September 30, 2022 is consistent as compared to the prior year period.

The effective income tax rate for the nine months ended September 30, 2022 and 2021 was 25.0% and 19.2%, respectively. The rate for the nine months ended September 30, 2022 is higher than in the prior year period, primarily as a result of the recognition of $3.0 million of deferred tax benefits in Italy during the nine months ended September 30, 2021, the majority of which related to a reduction in deferred tax liabilities in connection with certain tax incentives.