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Income taxes | 3 Months Ended
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Mar. 31, 2020
Income taxes |
Income taxes | 8. Income taxes The following table summarizes the current and deferred portions of the net income tax expense:
|  | Three Months Ended March 31, |  |
|  | 2020 |  | 2019 |  |
Current income tax expense |  | $ | 1.2 |  | $ | 1.3 |  |
Deferred income tax expense (benefit) |  |  | 0.3 |  |  | (0.7) |  |
Total income tax expense, net |  | $ | 1.5 |  | $ | 0.6 |  |
For the three months ended March 31, 2020 and 2019 Income tax expense for the three months ended March 31, 2020 was $1.5 million. Expected income tax expense for the same period, based on the Canadian enacted statutory rate of 27%, was $6.8 million. The primary item impacting the tax rate for the three months ended March 31, 2020 was a net decrease to our valuation allowances of $8.7 million, consisting of $5.9 million decreases in Canada and $2.8 million decreases in the United States due to the utilization of net operating losses. These items were partially offset by $2.0 million relating to foreign exchange and $1.4 million of other permanent differences. Income tax expense for the three months ended March 31, 2019 was $0.6 million. Expected income tax expense for the same period, based on the Canadian enacted statutory rate of 27%, was $0.8 million. The primary item impacting the tax rate for the three months ended March 31, 2019 was a net decrease to our valuation allowances of $1.6 million, consisting of $1.7 million increase in Canada and $3.3 million decreases in the United States due to income. These items were partially offset by $0.7 million relating to foreign exchange, $0.4 million relating to withholding state taxes and $0.3 million of other permanent differences. As of March 31, 2020, we have recorded a valuation allowance of $136.7 million. The amount is comprised primarily of provisions against Canadian and U.S. net operating loss carryforwards. In assessing the recoverability of our deferred tax assets, we consider whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon projected timing on the reversal of deferred tax liabilities and future taxable income in the United States and in Canada and available tax planning strategies.

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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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
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