|3 Months Ended|
Mar. 31, 2022
|Income Tax Disclosure [Abstract]|
|Income Taxes||Income Taxes
The Company recorded income tax expense of $3.7 million for the three months ended March 31, 2022 compared to income tax benefit of $2.6 million for the three months ended March 31, 2021. The Company’s effective tax rates were 33% and 17% for the three months ended March 31, 2022 and 2021, respectively.
The effective tax rates for the three months ended March 31, 2022 and 2021 differed from the statutory rate of 21% primarily due to the mix of earnings between the United States and Puerto Rico as well as changes in the valuation allowance.
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