XML 39 R26.htm IDEA: XBRL DOCUMENT

Note 17 - Income Taxes

6 Months Ended

Jun. 30, 2020

17. Income Taxes

The following table presents the benefit from income taxes for the respective periods:

	*Three Months Ended June 30,*						*Six Months Ended June 30,*
				*2019*						*2019*
(dollars in thousands)		*2020*			*As Restated*			*2020*			*As Restated*
Benefit from income taxes	$	(1,782	)	$	(5,913	)	$	(16,492	)	$	(23,263	)
Effective tax rate		64.7	%		21.5	%		18.3	%		22.2	%

Our effective tax rate for the three months ended June 30, 2020 increased to 64.7% from 21.5%, when compared to the same period in 2019. This change was primarily due to the impact of adjusting our estimate of our annual effective tax rate relative to the loss before benefit from income taxes for the three months ended June 30, 2020. Our effective tax rate for the six months ended June 30, 2020 decreased to 18.3% from 22.2%, when compared to the same period in 2019. This change was primarily due to the goodwill impairment and the investment in affiliates impairment which is discrete to the six months ended June 30, 2020 and resulted in no discrete tax benefit. See Note 4 for discussion of the impairment charges.

- 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 + Details