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Income Taxes | 9 Months Ended
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Sep. 30, 2017
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes The effective income tax rate on continuing operations for the nine months ended September 30, 2017 was 33.6%. The year-to-date provision for income taxes includes taxes on earnings at an anticipated rate of approximately 33.5%, and a year-to-date discrete tax expense of $0.3 million, primarily relating to $4.2 million of expenses from net foreign exchange gains offset by $3.7 million related to the benefit from the adoption of ASU 2016-09. Under this guidance all excess tax benefits (“windfalls”) and deficiencies (“shortfalls”) related to employee stock compensation will be recognized within income tax expense. Under prior guidance, windfalls were recognized in additional paid-in capital and shortfalls were only recognized as tax expense to the extent they exceeded the pool of windfall tax benefits. The Company adopted ASU 2016-09 effective January 1, 2017. The adoption was on a prospective basis and therefore had no impact on prior periods. See Note 2 for further information related to the change in accounting for tax benefits associated with stock-based compensation. The effective income tax rate on continuing operations for the nine months ended September 30, 2016 was 42.5% and included a year-to-date net discrete tax benefit of $0.8 million. The effective income tax rate of 42.5% included the impact of the $141.5 million pre-tax impairment charges, for which the Company recognized a tax benefit of approximately $8.9 million. The income tax provision for the third quarter of 2016 also included incremental tax expense resulting from the first six months of 2016, having reflected a forecasted annual effective rate of 33.0%.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
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