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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 Company’s effective tax rate for the three months ended September 30, 2017 and September 24, 2016 was 27.3% and 29.2%, respectively. The Company’s effective tax rate for the nine months ended September 30, 2017 and September 24, 2016 was 32.2% and 30.4%, respectively. For the three months ended September 30, 2017, the decrease was primarily attributable to a tax benefit of $1.2 million related to the settlement of competent authority proceedings, and the excess tax benefit associated with stock compensation of $0.9 million as a result of the adoption of ASU 2016-09. For the nine months ended September 30, 2017, the increase was primarily attributable to the tax on the gain on the divestiture of the CDMO business of $18.0 million, offset by the excess tax benefit associated with stock compensation of $9.7 million as a result of the adoption of ASU 2016-09. During the three months ended September 30, 2017, the Company’s unrecognized income tax benefits decreased by $0.8 million to $25.2 million, primarily due to the settlement of competent authority proceedings offset by unfavorable foreign exchange movement. The amount of unrecognized income tax benefits that would impact the effective tax rate increased by $0.3 million to $23.2 million. As of September 30, 2017, the amount of accrued interest and penalties on unrecognized tax benefits was $2.6 million. The Company estimates that it is reasonably possible that the unrecognized tax benefits will decrease by up to $0.9 million over the next twelve-month period, primarily as a result of the outcome of a pending tax ruling. The Company conducts business in a number of tax jurisdictions. As a result, it is subject to tax audits in jurisdictions including the U.S., U.K., China, Japan, France, Germany, and Canada. With few exceptions, the Company is no longer subject to U.S. and international income tax examinations for years before 2013. The Company and certain of its subsidiaries have ongoing tax controversies with various tax authorities in the U.S., Canada, Germany, and France. The Company does not believe that resolution of these controversies will have a material impact on its financial position or results of operations. In accordance with the Company’s policy, the remaining undistributed earnings of its non-U.S. subsidiaries remain indefinitely reinvested as of September 30, 2017, as they are required to fund needs outside the U.S. and cannot be repatriated in a manner that is substantially tax free. Income tax expense related to changes in unrecognized pension gains, losses, and prior service costs was $0.2 million and $0.1 million for the three months ended September 30, 2017 and September 24, 2016, respectively. Income tax expense related to changes in unrecognized pension gains, losses, and prior service costs was $0.8 million and $0.4 million for the nine months ended September 30, 2017 and September 24, 2016, respectively.

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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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