XML 56 R19.htm IDEA: XBRL DOCUMENT
v3.19.3

Income Taxes | 9 Months Ended
--- | ---
Sep. 30, 2019
Income Tax Disclosure [Abstract] |
Income Taxes | INCOME TAXES Our effective income tax rates for the nine months ended September 30, 2019 and 2018 are as follows:
|  | Nine Months Ended September 30,
|  | 2019 |  | 2018
Effective Tax Rate |  | 19.3 | % |  | 26.0 | %
The lower effective tax rate for the nine months ended September 30, 2019 was primarily due to the favorable impact of changes in valuation allowance (net of adjustments to foreign taxes), an increase in net excess tax benefits related to stock-based compensation of $11.0 million compared with $6.5 million for the nine months ended September 30, 2019 and 2018, respectively, and the unfavorable impact associated with the financial impacts surrounding the closure of our Belgium manufacturing facility in 2018. These adjustments are partially offset by the unfavorable impact of net currency exchange losses in 2019 and a one-time favorable impact related to the reduction of the U.S. Tax Cuts and Jobs Act tax charge which lowered the effective tax rate in 2018. The effective tax rate for the nine months ended September 30, 2019 differs from the U.S. Federal statutory rate due to various items that impacted the effective rate both favorably and unfavorably. We recorded the unfavorable impact of net currency exchange losses, unrecognized tax benefits, and an adjustment to foreign taxes. These adjustments were offset by the favorable adjustments for earnings in jurisdictions where the statutory rate is lower than the U.S. Federal statutory rate, decrease in valuation allowance, and current year net excess tax benefits related to stock-based compensation.

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration