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Taxes on income from continuing operations

6 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Abstract]

Taxes on income from continuing operations

Taxes on income from continuing operations

	Three Months Ended				Six Months Ended
	June 30, 2019		July 1, 2018		June 30, 2019		July 1, 2018
Effective income tax rate	4.4%		136.3%		10.6%		23.2%

The effective income tax rate for the three and six months ended June 30, 2019 was 4.4% and 10.6%, respectively and 136.3% and 23.2% for the three and six months ended July 1, 2018, respectively. The effective income tax rates for the three and six months ended June 30, 2019 reflect a net tax benefit related to share-based compensation, partially offset, with respect to the six months ended June 30, 2019, by the effect of non-deductible costs related to the 2019 Footprint realignment plan, as described in Note 5. The effective tax rates for the three and six months ended July 1, 2018, reflect non-deductible costs related to the 2018 Footprint realignment plan, as described in Note 5, and a non-deductible contingent consideration expense recognized in connection with an increase in the fair value of the NeoTract contingent consideration liability.

Effective July 3, 2019, the Company merged two of its non-U.S. subsidiaries. The Company is currently evaluating the tax impact of this merger, but it is likely to result in a reduction of approximately $130 million to deferred tax liabilities within 12 months of the effective date of the merger.

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- References

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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

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