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INCOME TAXES | 9 Months Ended
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Sep. 30, 2017
Income Tax Disclosure [Abstract] |
INCOME TAXES | INCOME TAXES During the three months ended September 30, 2017, the Company recognized an income tax expense of $0.1 million on income of $56.7 million, an effective tax rate of 0.2%, as compared to an income tax benefit of $19.3 million on income of $13.9 million, an effective tax rate of (138.8)%, for the three months ended September 30, 2016. The higher effective tax rate for the three months ended September 30, 2017 is primarily due to lower tax benefits from the establishment of net operating loss carryforwards and geographic mix of earnings when compared to the three months ended September 30, 2016. During the nine months ended September 30, 2017, the Company recognized an income tax benefit of $5.1 million on income of $86.6 million, an effective tax rate of (5.9)%, as compared to an income tax benefit of $82.5 million on income of $38.3 million, an effective tax rate of (215.4)%, for the nine months ended September 30, 2016. The higher effective tax rate for the nine months ended September 30, 2017 is primarily due to lower tax benefits from the establishment of net operating loss carryforwards, valuation allowance releases and agreement with a non-U.S. authority with respect to certain tax matters extending back a period of years, partially offset by low-taxed capital gains from the disposition of Konecranes shares, tax benefits from interest deductions, and geographic mix of earnings when compared to the nine months ended September 30, 2016.

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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 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32559-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32718-109319 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319 + Details
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