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Income Taxes | 9 Months Ended
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Sep. 30, 2019
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes The effective tax rates on earnings (loss) from continuing operations for the three and nine months ended September 30, 2019 were (174.2) percent and (34.3) percent, respectively, compared to 25.8 percent and 27.9 percent for the corresponding periods of 2018. The effective rates for all periods were unfavorably impacted by foreign income tax rates that exceed the U.S. statutory rate of 21% and foreign losses for which no tax benefit could be recognized. With respect to the three months ended September 30, 2019, after considering certain positive and negative evidence, including the three-year cumulative loss as of the end of the reporting period, we also recognized a valuation allowance of approximately $546 million against deferred tax assets that we do not believe are more-likely-than-not to be realized. We will continue to monitor positive and negative evidence in subsequent reporting periods to assess the continuing need for a valuation allowance in the jurisdictions within which we operate. All periods benefitted from earnings attributable to noncontrolling interests from continuing operations for which income taxes are not typically the responsibility of the company. The company conducts business globally and, as a result, the company or one or more of its subsidiaries files income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. In the normal course of business, the company is subject to examination by taxing authorities throughout the world, including such major jurisdictions as Australia, Canada, the Netherlands, South Africa, the United Kingdom and the United States. Although the company believes its reserves for its tax positions are reasonable, the final outcome of tax audits could be materially different, both favorably and unfavorably. With a few exceptions, the company is no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations for years before 2013.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
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