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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 Company's effective tax rate for the third quarter of 2019 was 26.9% and differs from the U.S. federal statutory rate of 21% primarily due to dividend income subject to income tax in foreign jurisdictions and a reduction in the benefit related to domestic goods sold into foreign markets. The Company's effective tax rate for the third quarter of 2018 was 11.0%, which differs from the U.S. federal statutory rate of 21% primarily due to benefits associated with the reduction in the one-time transition tax, additional manufacturing deduction benefits and certain share-based payments related to the application of ASU 2016-09. The Company's effective tax rate for the nine months ended September 30, 2019, was 26.3% and differs from the U.S. federal statutory rate of 21% primarily due to higher profitability and dividend income in less favorable tax jurisdictions, higher foreign entity losses in jurisdictions where we cannot take tax benefits, and non-deductible foreign exchange on entity closures partially offset by certain share-based payments related to the application of ASU 2016-09. The Company's effective tax rate for the nine months ended September 30, 2018, was 19.1% which differs from the U.S. federal statutory rate of 21% primarily due to tax benefits associated with the reduction in the one-time transition tax, additional manufacturing benefits and certain share-based payments related to the application of ASU 2016-09. At September 30, 2019, the Company had a gross liability for unrecognized tax benefits of $12.8 million. The Company has recognized tax benefits associated with these liabilities of $4.9 million at September 30, 2019. The gross liability includes amounts associated with prior period foreign tax exposure. The Company recognizes interest related to unrecognized tax benefits in interest expense and penalties in operating expenses. The Company's liability for accrued interest related to uncertain tax positions was $1.9 million at September 30, 2019.

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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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