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Income Tax Income Tax
 9 Months Ended
Sep. 30, 2016
Income Tax Disclosure [Abstract]  
Income Tax Disclosure [Text Block]
Income Tax
Provision for income tax expense differed from the amounts computed by applying the U.S. federal income tax statutory rate of 35% to pre-tax income as a result of the following for the three and nine months ended September 30, 2016 and 2015 (dollars in thousands):
 
 
Three months ended September 30,
 
Nine months ended September 30,
 
 
2016
 
2015
 
2016
 
2015
Tax provision at U.S. statutory rate
 
$
100,660

 
$
49,048

 
$
261,941

 
$
188,318

Increase (decrease) in income taxes resulting from:
 
 
 
 
 
 
 
 
Foreign tax rate differing from U.S. tax rate
 
(2,335
)
 
(96
)
 
(14,617
)
 
(5,685
)
Differences in tax bases in foreign jurisdictions
 
(7,078
)
 
(16,221
)
 
(21,567
)
 
(29,822
)
Deferred tax valuation allowance
 
4,411

 
10,239

 
13,698

 
21,997

Amounts related to tax audit contingencies
 
(3,979
)
 
(2,580
)
 
(175
)
 
(675
)
Corporate rate changes
 
—

 
—

 
—

 
58

Subpart F
 
1,779

 
12,188

 
3,212

 
30,074

Foreign tax credits
 
(1,934
)
 
(1,106
)
 
(2,655
)
 
(4,554
)
Return to provision adjustments
 
(1,996
)
 
3,747

 
(2,227
)
 
(1,774
)
Other, net
 
(647
)
 
1,384

 
(501
)
 
1,076

Total provision for income taxes
 
$
88,881

 
$
56,603

 
$
237,109

 
$
199,013

Effective tax rate
 
30.9
%
 
40.4
%
 
31.7
%
 
37.0
%

The third quarter of 2016 effective tax rate was lower than the U.S. Statutory rate of 35.0% primarily as a result of effectively settling uncertain tax positions during the quarter and adjustments related to the filing of the U.S. Federal Income tax return. The first nine months of 2016 effective tax rate was lower than the U.S. Statutory rate of 35.0% primarily as a result of tax benefits from income in non-U.S. jurisdictions with lower tax rates than the U.S. The third quarter and first nine months effective tax rates were further reduced by differences in tax bases in foreign jurisdictions.
The third quarter and first nine months of 2015 effective tax rates were higher than the U.S. Statutory rate of 35.0% primarily as a result of a tax accrual related to the Active Financing Exception business extender provision that the U.S. Congress did not pass prior to the end of the quarter and a loss in Australia which has a lower tax rate than the U.S. The higher rate was partially offset by tax benefits associated with claims experience on certain treaties and income in other jurisdictions with rates lower than the U.S.