XML 24 R11.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Income Taxes | 3 Months Ended
--- | ---
Mar. 31, 2018
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes For the three months ended March 31, 2018, and 2017, we recorded $9.8 million and $5.1 million, respectively, of income tax expense and had an effective rate of 20.9% and 33.6%, respectively. During the three months ended March 31, 2018 and 2017, the primary reason for the difference between the federal statutory income tax rates of 21% and 35%, respectively, and the effective tax rates was the effect of excess tax benefits of vested share-based payment awards, offset partially by state taxes. During the three months ended March 31, 2018, refunds received, net of cash paid for taxes, were $12.0 million. During the three months ended March 31, 2017, cash paid for taxes, net of refunds, was $0.1 million. Tax Reform On December 22, 2017, the Tax Act was enacted by the U.S. government. The legislation makes broad and complex changes to the U.S. tax code affecting the taxation of businesses in all industries. The most significant impact to our financial statements is the reduction of the corporate federal income tax rate from 35% to 21%. Other relevant provisions which may impact our financial statements include, but are not limited to, the elimination of the production activities deduction, limitations on the deductibility of certain executive compensation, bonus depreciation to allow immediate expensing of qualified property, and limitations on deductible interest expense. As of March 31, 2018, we have not completed our assessment of the effects of the Tax Act on our financial statements. We have, however, made reasonable estimates of the effects on our existing deferred tax balances. In connection with our initial analysis of the Tax Act, we have recorded a provisional discrete tax benefit of $8.1 million during the year ended December 31, 2017. As the new law pertains to the taxation of our foreign subsidiaries we have not been able to make a reasonable estimate of the effects of the revised tax law. In this case we have accounted for our foreign subsidiaries based on the tax laws that were in effect immediately prior to enactment. We continue to evaluate the effects of the Tax Act on our financial statements particularly relating to the deferred balances subject to the rate reduction, the state tax impact from decisions related to federal conformity, and the cost recovery provisions of the new bonus depreciation rules. In addition, the Company continues to monitor potential legislative action and regulatory interpretations of the Tax Act. We will refine our adjustments through the permissible measurement period, which is not to extend beyond one year from enactment.

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration