Income Taxes (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of Effective Income Tax Rate Reconciliation

The effective tax rates, including discrete items, were as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Effective tax rate	20.5	%	21.9	%	18.7	%	16.7	%

The below table provides a reconciliation between our reported effective tax rates and the EAETR.


	Three Months Ended June 30,
	2020										2019
In millions, except percentages	Before tax		Tax		Effective tax rate % impact		Before tax		Tax		Effective tax rate % impact
Consolidated operations	$	25.4	$	5.2	20.5	%	$	72.7	$	15.9	21.9	%
Discrete items:
Restructuring and other (income) charges, net	7.3		1.7				0.3		—
Acquisition and other-related costs ⁽¹⁾	0.4		0.1				0.8		0.3

Other tax only discrete items	—		(0.1)				—		0.1
Total discrete items	7.7		1.7				1.1		0.4
Consolidated operations, before discrete items	$	33.1	$	6.9			$	73.8	$	16.3
Quarterly effect of changes in the EAETR					20.8	%					22.1	%

	Six Months Ended June 30,
	2020										2019
In millions, except percentages	Before tax		Tax		Effective tax rate % impact		Before tax		Tax		Effective tax rate % impact
Consolidated operations	$	80.6	$	15.1	18.7	%	$	95.4	$	15.9	16.7	%
Discrete items:
Restructuring and other (income) charges, net	7.8		1.8				0.3		—
Acquisition and other-related costs ⁽¹⁾	1.7		0.4				32.0		5.6

Other tax only discrete items	—		1.2				—		6.8
Total discrete items	9.5		3.4				32.3		12.4
Consolidated operations, before discrete items	$	90.1	$	18.5			$	127.7	$	28.3
EAETR ⁽²⁾					20.5	%					22.2	%

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(1) See Note 4 for more information on our acquisition and other-related costs.

(2) Decrease in EAETR for the six months ended June 30, 2020, as compared to June 30, 2019, is due to a change in the mix of forecasted earnings in various tax jurisdictions with varying rates, offset by a large reduction in acquisition related costs and excess stock compensation benefit.