Income Taxes (Notes)

9 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

Income Tax Disclosure

Income Taxes

The effective income tax rate for the three months ended September 30, 2023 and 2022 was 16.3% and 27.1%, respectively. We recorded income tax expense of $3.2 million and $4.9 million for the three months ended September 30, 2023 and 2022, respectively. The effective tax rate for the three months ended September 30, 2023 is lower than in the prior year primarily due to the Company recognizing $2.4 million of tax benefit related to foreign tax loss carryforwards.

The effective income tax rate for the nine months ended September 30, 2023 and 2022 was 23.1% and 25.0%, respectively. We recorded tax expense of $9.7 million for the nine months ended September 30, 2023 as compared to $15.8 million for the nine months ended September 30, 2022. The effect tax rate for the nine months ended September 30, 2023 is lower than in the prior year primarily due to the Company recognizing $2.4 million of tax benefit related to foreign tax loss carryforwards.