How did VRT's income tax expenses vary by quarter in 2023?

Vertiv Holdings (VRT) experienced significant fluctuations in income tax expenses throughout 2023, with a notable decrease in the fourth quarter. Here's a detailed analysis of the variations by quarter: |code|Ticker|Name|Date|Income Taxes|Income Taxes YoY|market_code| |---|---|---|---|---|---|---| |VRT|VRT.N|Vertiv Holdings|2023 Q1|3.74E7|214.28571428571428|169| |VRT|VRT.N|Vertiv Holdings|2023 Q2|2.97E7|160.5263157894737|169| |VRT|VRT.N|Vertiv Holdings|2023 Q3|5.17E7|406.86274509803917|169| |VRT|VRT.N|Vertiv Holdings|2023 Q4|-4.53E7|-179.61335676625657|169| The data indicates that VRT's income tax expenses were highest in the third quarter, amounting to $51.7 million. This was followed by a substantial reduction in the fourth quarter, with the company reporting a negative $45.3 million in income tax expenses. This could be indicative of factors such as changes in the company's financial performance, tax planning strategies, or one-time tax adjustments. The second quarter showed a more modest expense of $29.7 million, while the first quarter had the highest expense of $37.4 million. These fluctuations highlight the importance of monitoring tax-related expenses, especially in a volatile period, to ensure compliance and optimize financial outcomes.