XML 29 R18.htm IDEA: XBRL DOCUMENT v3.21.2
Income Taxes
9 Months Ended
Sep. 30, 2021
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
At September 30, 2021, the Company had gross uncertain tax benefits of $156.6 million, of which $103.7 million, if recognized, would impact the effective tax rate.
The following is a reconciliation of the liability for uncertain tax positions (in millions):
Balance at December 31, 2020$100.7 
Additions for tax positions56.7 
Reductions for tax positions(0.8)
Balance at September 30, 2021$156.6 
The additions above primarily reflect the tax positions included as a component of goodwill for businesses recently acquired and foreign tax planning initiatives. The Company recognizes interest and penalties accrued related to uncertain tax positions in income tax expense. The amounts recognized in income tax expense for interest and penalties during the three and nine months ended September 30, 2021 and 2020 were not significant.
The effective tax rate for the three months ended September 30, 2021 was 19.5%, compared with 17.5% for the three months ended September 30, 2020. The higher effective tax rate in 2021 is primarily due to an increase in the foreign rate differential related to the mix of earnings generated in higher taxed jurisdictions.