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10. Income Taxes | 9 Months Ended
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Sep. 30, 2017
Income Tax Disclosure [Abstract] |
Income Taxes | 10. INCOME TAXES Our effective income tax rate was 29% and 19% for the three months ended September 30, 2017 and 2016, respectively. Our effective income tax rate was 25% and 30% for the first nine months of 2017 and 2016, respectively. The effective tax rate for the third quarter of 2016 was low primarily due to tax benefits related to additional foreign tax credits from foreign cash repatriations. The effective tax rate for the first nine months of 2017 was low primarily due to discrete tax benefits related to share-based compensation and the transfer of intangibles associated with our European reorganization. Our foreign taxes result primarily from income earned in France and Switzerland. Many jurisdictions in which we operate, including Switzerland and Singapore, have statutory tax rates that are significantly lower than the U.S. statutory tax rate of 35%. Our income tax returns are audited by U.S. federal, state and foreign tax authorities. We are currently under examination by many of these tax authorities. There are differing interpretations of tax laws and regulations, and as a result, significant disputes may arise with these tax authorities involving issues of the timing and amount of deductions and allocations of income among various tax jurisdictions. We evaluate our exposures associated with our tax filing positions on a quarterly basis. We assess our ability to realize our net deferred tax assets on a quarterly basis and establish a valuation allowance if it is more-likely-than-not that some portion of the deferred tax assets will not be realized in the foreseeable future. Due to the weight of negative evidence, including our history of losses in certain jurisdictions, we believe that it is more-likely-than-not that certain foreign deferred tax assets will not be realized as of September 30, 2017. Accordingly, we have maintained a valuation allowance on such deferred tax assets. Within the next twelve months, it is reasonably possible that additional positive evidence may become available such that a significant portion of the valuation allowance will no longer be needed. If or when recognized, the tax benefits relating to the reversal of our valuation allowance will be recognized as a reduction of income tax expense. We record liabilities for unrecognized tax benefits related to uncertain tax positions. We do not believe any currently pending uncertain tax positions will have a material adverse effect on our condensed consolidated financial statements, although an adverse resolution of one or more of these uncertain tax positions in any period may have a material impact on the results of operations for that period. As of September 30, 2017, based on the expected outcome of certain examinations or as a result of the expiration of statute of limitations for certain jurisdictions, we believe that within the next 12 months it is reasonably possible that our previously unrecognized tax benefits could decrease by approximately $3.4 million. Substantially all such amounts will favorably impact our effective income tax rate.

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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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