Income Taxes	9 Months Ended
Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	13. 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 jurisdictions with varying statutory tax rates, the impact of U.S. state and local taxes, and other differences related to the recognition of income and expense between U.S. GAAP and tax accounting. The Company’s effective income tax rate for the three months ended September 30, 2019 was 19.8%, compared with 18.0% for the three months ended September 30, 2018. The higher effective income tax rate for the three months ended September 30, 2019 was primarily attributable to U.S. Tax Reform, which provided for a one-time transition tax on foreign earnings that were previously tax deferred, which was booked during the third quarter of 2018. The Company’s effective income tax rate for the nine months ended September 30, 2019 was 19.3%, compared with 17.0% for the nine months ended September 30, 2018. The higher effective income tax rate for the nine months ended September 30, 2019 was primarily attributable to U.S. Tax Reform, which provided for a one-time transition tax on foreign earnings that were previously tax deferred, which was booked during the third quarter of 2018, as well as the impact of non-U.S. valuation allowances booked in 2018. The Company also recorded tax expense related to share-based compensation during the third quarter of 2019. The Company continues to monitor income tax developments in the United States and other countries affecting the Company. In December 2017, the United States enacted U.S. Tax Reform, which materially impacted the consolidated financial statements by decreasing the U.S. corporate statutory tax rate and significantly affecting future periods. The Company expects several proposed U.S. Treasury regulations under U.S. Tax Reform that were issued during 2018 and 2019 to be finalized during 2019 and 2020. The Company will incorporate into its future financial statements the impacts, if any, of these regulations and additional authoritative guidance when finalized.

Income Taxes

9 Months Ended

Sep. 30, 2019

13. 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 jurisdictions with varying statutory tax rates, the impact of U.S. state and local taxes, and other differences related to the recognition of income and expense between U.S. GAAP and tax accounting.

The Company’s effective income tax rate for the three months ended September 30, 2019 was 19.8%, compared with 18.0% for the three months ended September 30, 2018. The higher effective income tax rate for the three months ended September 30, 2019 was primarily attributable to U.S. Tax Reform, which provided for a one-time transition tax on foreign earnings that were previously tax deferred, which was booked during the third quarter of 2018.

The Company’s effective income tax rate for the nine months ended September 30, 2019 was 19.3%, compared with 17.0% for the nine months ended September 30, 2018. The higher effective income tax rate for the nine months ended September 30, 2019 was primarily attributable to U.S. Tax Reform, which provided for a one-time transition tax on foreign earnings that were previously tax deferred, which was booked during the third quarter of 2018, as well as the impact of non-U.S. valuation allowances booked in 2018. The Company also recorded tax expense related to share-based compensation during the third quarter of 2019.

The Company continues to monitor income tax developments in the United States and other countries affecting the Company. In December 2017, the United States enacted U.S. Tax Reform, which materially impacted the consolidated financial statements by decreasing the U.S. corporate statutory tax rate and significantly affecting future periods. The Company expects several proposed U.S. Treasury regulations under U.S. Tax Reform that were issued during 2018 and 2019 to be finalized during 2019 and 2020. The Company will incorporate into its future financial statements the impacts, if any, of these regulations and additional authoritative guidance when finalized.