INCOME TAXES

9 Months Ended

Sep. 30, 2023

INCOME TAXES

INCOME TAXES

16.INCOME TAXES

During the three months ended September 30, 2023 and 2022, the Company’s consolidated effective tax rates were 35.1% and 28.1%, respectively. During the nine months ended September 30, 2023 and 2022, the Company’s consolidated effective tax rates were 28.5% and 28.2%, respectively. The increase in tax rate for the three and nine months ended September 30, 2023 was primarily due to non-deductible severance expense during the period.