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Quarterly report pursuant to Section 13 or 15(d)

INCOME TAXES

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INCOME TAXES
3 Months Ended
Mar. 31, 2021
Income Tax Disclosure [Abstract] Ìý
Income Taxes
NOTE 11 - INCOME TAXES
Our 2021 estimated annual effective tax rate before discrete items as of MarchÌý31, 2021 is 19%. The estimated annual effective tax rate differs from the U.S. statutory rate of 21% primarily due to the deduction for percentage depletion in excess of cost depletion. The 2020 estimated annual effective tax rate before discrete items as of MarchÌý31, 2020 was 47%. The decrease in the estimated annual effective tax rate before discrete items is driven by the change in the mix of income.