Cushman & Wakefield(CWK) - 2023 Q3 - Quarterly Report

Provision for income taxes for the third quarter of 2023 was $16.6 million on a loss before income taxes of $17.3 million. For the third quarter of 2022, the provision for income taxes was $26.2 million on earnings before income taxes of $50.1 million. The negative effective tax rate for the three months ended September 30, 2023 was principally driven by the increase in the valuation allowance the Company has placed on a portion of our deferred tax assets. Additionally, the decrease in income tax expense wa ...