INCOME TAXES |
6 Months Ended |
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Jun. 30, 2022 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES |
NOTE 9. INCOME TAXES Our forecasted annual effective tax rate (“AETR”) at June 30, 2022 was 8.4%, as compared to 12.8% at June 30, 2021. This reduction was primarily due to the change in valuation allowance as a result of changes in estimates of current-year ordinary income considered in determining the forecasted AETR and favorable discrete items related to stock compensation in the current and previous quarters. For the six months ended June 30, 2022 and 2021, our effective tax rate (“ETR”) was (4.9)% and 4.2%, respectively. The decrease in the ETR for the six months ended June 30, 2022 is a result of favorable discrete items related to excess tax benefits from stock-based compensation and changes in valuation allowance against deferred tax attributes. |
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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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