Income Taxes |
3 Months Ended | ||||||
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Mar. 31, 2023 | |||||||
| Income Tax Disclosure [Abstract] | |||||||
| Income Taxes |
The Company files income tax returns in the U.S. federal and state jurisdictions, as well as in foreign jurisdictions. With certain exceptions, the Company is no longer subject to federal income tax examinations for years prior to 2019. The Company is no longer subject to state and local, or foreign, income tax examinations for years prior to 2015.
The Company made cash income tax payments, net of refunds, of $4 million and $2 million for the three months ended March 31, 2023 and 2022, respectively.
The Company’s effective tax rates were 26.4% and 24.3% during the three months ended March 31, 2023 and 2022, respectively. During 2023, the effective tax rate was higher as a result of the remeasurement of net deferred tax liabilities due to changes in certain state tax rates and a lower tax benefit associated with stock-based compensation.
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- References No definition available.
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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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