INCOME TAXES |
3 Months Ended |
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Mar. 31, 2021 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES |
NOTE 12. INCOME TAXES
Our forecasted annual effective tax rate (“AETR”) at March 31, 2021 was 12.92%, as compared to 23.57% at March 31, 2020. This decrease was primarily due to excess tax benefits from stock-based compensation, utilization of tax credits, foreign rate differential, Subpart F inclusion and a change in valuation allowance as a result of changes in estimates of current-year ordinary income considered in determining the forecasted AETR.
For the three months ended March 31, 2021 and 2020, our effective tax rate (“ETR”) was (27.15%) and 23.57%, respectively. The decrease in the ETR for the three months ended March 31, 2021 is a result of favorable discrete items related to excess tax benefits from stock-based compensation that resulted in an income tax benefit that exceeded pre-tax book income for the quarter. |
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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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