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Income Taxes
9 Months Ended
Sep. 30, 2016
Income Taxes  
Income Taxes

Note 6—Income Taxes

 

The effective income tax rate on continuing operations for the nine months ended September 30, 2016 reflects our anticipated annual effective tax rate of 42.5% and a year-to-date net discrete tax benefit of $0.8 million. The anticipated rate of 42.5% includes the impact of $141.5 million pre-tax impairment charges, for which we anticipate recognizing a tax benefit of approximately $8.9 million.  The income tax provision for the third quarter of 2016 also includes incremental tax expense resulting from the first six months of 2016, having reflected a forecasted annual effective tax rate of 33.0%.

The effective income tax rate on continuing operations for the nine months ended September 30, 2015 was 32.2% and included a year-to-date net discrete tax benefit of $3.3 million.