INCOME TAXES |
6 Months Ended |
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Jun. 30, 2022 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | INCOME TAXESThe Company recorded an income tax benefit of $12.3 million and $5.8 million for the three months ended June 30, 2022 and 2021, respectively, and the Company recorded an income tax benefit of $4.4 million and income tax benefit of $4.5 million for the six months ended June 30, 2022 and 2021, respectively. Our effective tax rate was 181.5% for the three months ended June 30, 2022 compared to 45.4% for the three months ended June 30, 2021. Our effective tax rate was 18.3% for the six months ended June 30, 2022 compared to 80.1% for the six months ended June 30, 2021. The effective rates differ from the federal statutory rate of 21% primarily due to the jurisdictional mix of earnings at differing tax rates, research and development tax credits, non-deductible stock compensation, and the effect of a valuation allowance on certain federal deferred tax assets. |
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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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