XML 31 R21.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Income Taxes | 9 Months Ended
--- | ---
Sep. 30, 2018
Income Tax Disclosure [Abstract] |
Income Taxes | 12. Income Taxes The Company’s effective income tax rate fluctuates from the U.S. statutory tax rate based on, among other factors, changes in pretax income in countries with varying statutory tax rates, impact of state and local taxes, and other differences related to the recognition of income and expense between U.S. GAAP and tax. The Company’s effective income tax rate for the three months ended September 30, 2018 was 18.0%, compared with 28.8% for the three months ended September 30, 2017. The Company’s effective income tax rate for the nine months ended September 30, 2018 was 17.0% compared with 36.1% for the nine months ended September 30, 2017. The lower effective income tax rate for the three months and nine months ended September 30, 2018 was primarily attributable to Tax Reform, which reduced the U.S. federal statutory tax rate, provided for a one-time transition tax on foreign earnings that were previously tax deferred, and placed additional limitations on the deductibility of various expense items, including meals and entertainment expenses and officer compensation. The Company also recorded a valuation allowance against the net deferred tax assets of a certain Canadian subsidiary of the Company due to a change in judgment as to the realizability of these assets in the first quarter of 2018. The Company recognized the income tax effects of Tax Reform in its audited financial statements included in the Company’s 2017 Annual Report on Form 10-K in accordance with Staff Accounting Bulletin No. 118, which provides SEC staff guidance for the application of ASC Topic 740, Income Taxes, in the reporting period during which Tax Reform was signed into law. The guidance also provides for a measurement period of up to one year from the enactment date for the Company to complete its accounting for the U.S. tax law changes. As such, the Company’s 2017 financial results reflected a provisional estimate of the income tax effects of Tax Reform. In the third quarter of 2018, the Company recorded tax expense of $2.6 million as an adjustment to the provisional estimate for the one-time transition tax after additional implementation guidance was released, and the Company refined its analysis of the historical earnings and profits of its foreign subsidiaries. No other significant adjustments have been made in the third quarter of 2018 to accounting policy elections and the amounts recorded as of December 31, 2017, which continue to represent a provisional estimate of the impact of Tax Reform. The estimate of the impact of Tax Reform was based on certain assumptions and the Company’s current interpretation of Tax Reform. This estimate may change through December 31, 2018 as the Company receives additional clarification and implementation guidance and as additional interpretations of Tax Reform become available.

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://fasb.org/us-gaap/role/ref/legacyRef -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