Income Taxes

6 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The effective tax rate from continuing operations for the three and six months ended June 30, 2022 was 26.0% and 25.0%, respectively, which differs from the U.S. statutory rate of 21.0% primarily due to state income taxes, foreign taxes, non-deductible executive compensation, excess tax benefits associated with equity-based compensation, and taxes not recorded on our non-controlling interests in partially-owned subsidiaries.

For the three months ended June 30, 2021, we recorded income tax benefit of $2.9 million on a loss from continuing operations before income taxes of $5.7 million, which differs from the U.S. statutory rate primarily due to excess tax benefits associated with equity-based compensation. For the six months ended June 30, 2021, we recorded income tax expense of $1.1 million on a loss from continuing operations before income taxes of $6.7 million, which differs from the U.S. statutory rate primarily due to adjustments to the Coronavirus Aid, Relief, and Economic Security Act carryback benefit previously recognized, partially offset by excess tax benefits associated with equity-based compensation.

The total income tax receivable position as of June 30, 2022 was $8.5 million.

Our tax years through 2019 are effectively settled. We have received a partial acceptance of our 2020 tax return and expect to receive a final acceptance during 2022. We have state tax returns that are under audit in the normal course of business, and our Mexican subsidiaries' tax returns statutes of limitations remain open for auditing 2017 forward. We believe we are appropriately reserved for any potential matters.