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Income Taxes
6 Months Ended
Jun. 30, 2017
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes

Income tax benefit was $22.2 million and $37.3 million, respectively, for the three and six months ended June 30, 2017 compared to an income tax expense of $5.3 million and $5.3 million, respectively, for the same periods in 2016. The income tax benefit in 2017 was primarily driven by pre-tax losses, partially offset by non-deductible expenses and valuation allowances recorded on losses generated by foreign loss jurisdictions. The effective tax rate for the full fiscal year 2017 is expected to be approximately 35%.

In connection with the Spin-Off, net operating loss carryforwards were split between the Company and New Hertz pursuant to the Internal Revenue Code and regulations. While not expected to be significant, the split of net operating loss carryforwards may be further adjusted as income tax returns are finalized through 2017.