Income Taxes |
9 Months Ended |
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Dec. 31, 2022 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income TaxesThe Company’s provision for income taxes as a percentage of pre-tax earnings (“effective tax rate”) is based on a current estimate of the annual effective income tax rate, adjusted to reflect the impact of discrete items. In accordance with ASC 740, Accounting for Income Taxes, jurisdictions forecasting losses that are not benefited due to valuation allowances are not included in the Company’s forecasted effective tax rate. During the three and nine months ended December 31, 2022, a tax benefit and provision of $1,153 and $8,164, respectively, resulted in an effective tax rate of (39.6)% and 21.0%, respectively. Differences between the effective tax rate and
the statutory tax rate primarily relate to return to provision true-ups filed in the current period.
During the three and nine months ended December 31, 2021, a tax provision of $3,718 and $4,799 resulted in an effective tax rate of 34.5% and 23.7%, respectively. Differences between the effective tax rate and the statutory tax rate primarily relate to state income taxes, nontaxable adjustments to the AdColony and Fyber earn-outs, and tax deductions for stock compensation that exceed the book expense.
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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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