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Income Taxes | 9 Months Ended
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Sep. 30, 2017
Income Taxes [Abstract] |
Income Taxes | Note I – Income Taxes ﻿ The Company’s effective income tax rate is calculated as the amount of income tax expense (benefit) divided by income (loss) before income tax expense. For the three-month and nine-month periods ended September 30, 2017 and 2016, the Company’s effective income tax rates were as follows: ﻿
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﻿ | 2017 |  | 2016 |
﻿Three months ended September 30 | (4.3%) |  | 13.0% |
﻿Nine months ended September 30 | 137.7% |  | 48.9% |
﻿ The effective tax rates for most periods where earnings are generated, generally exceed the U.S. statutory tax rate of 35% due to several factors, including: the effects of income generated in foreign tax jurisdictions, certain of which have income tax rates that are higher than the U.S. Federal rate; U.S. state tax expense; and certain expenses, including exploration and other expenses in certain foreign jurisdictions, for which no income tax benefits are available or are not presently being recorded due to a lack of reasonable certainty of adequate future revenue against which to utilize these expenses as deductions. Conversely, the effective tax rates for most periods where losses are incurred generally are lower than U.S. statutory tax rate of 35% due to similar reasons. ﻿ The effective tax rate for the three-month period ended September 30, 2017 was below the U.S. statutory tax rate of 35% primarily due to the tax effect of expenses in foreign jurisdictions not fully deductible from losses at the U.S. statutory tax rate, an estimated U.S. tax charge for undistributed foreign earnings and Canadian foreign exchange losses not fully deductible at 35%. These impacts were partially offset by the U.S. tax benefit recognized from the reversal of an uncertain tax position for federal tax years 2011-2013. ﻿ The effective tax rate for the nine-month period ended September 30, 2017 was above the U.S. statutory tax rate of 35% primarily due to an estimated U.S. tax charge for undistributed foreign earnings and Canadian foreign exchange losses. These impacts were partially offset by the U.S. tax benefit recognized from the reversal of an uncertain tax position for federal tax years 2011-2013 and other items. During the first nine-months of 2017, the Company determined that prospective earnings from its Malaysian and Canadian subsidiaries will not be considered reinvested into local operations. Due to this change in assertion, the Company recorded a deferred tax charge of $65.2 million in the nine-month period 2017 associated with the estimated tax consequence of the future repatriation of these subsidiaries earnings during the first nine months 2017. This decision provides greater financial flexibility as it considers future domestic investment opportunities. The Company expects to incur further tax charges in the fourth quarter 2017 for additional 2017 foreign earnings as they arise. ﻿ ﻿ ﻿ ﻿ Note I – Income Taxes (Contd.) ﻿ The effective tax rate for the three-month period ended September 30, 2016 was less than the U.S. statutory tax rate primarily due to expenses in foreign jurisdictions for which no tax benefits were recognized. The effective tax rate for the nine-month period ended September 30, 2016 was above the U.S. statutory tax rate primarily due to deferred tax benefits recognized related to the Canadian asset dispositions and income tax benefits on investments in foreign areas. ﻿ The Company’s tax returns in multiple jurisdictions are subject to audit by taxing authorities. These audits often take years to complete and settle. Although the Company believes that recorded liabilities for unsettled issues are adequate, additional gains or losses could occur in future years from resolution of outstanding unsettled matters. As of September 30, 2017, the earliest years remaining open for audit and/or settlement in our major taxing jurisdictions are as follows: United States – 2014; Canada – 2012; Malaysia – 20 10; and United Kingdom – 2015.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
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