XML 71 R14.htm IDEA: XBRL DOCUMENT v3.20.2
Income Tax
6 Months Ended
Jun. 30, 2020
Income Tax Disclosure [Abstract]  
Income Tax Income Tax
The Company’s provision for income taxes was $0.4 million and $0.7 million, respectively, for the three and six months ended June 30, 2020 and $0.1 million and $0.1 million, respectively, for the three and six months ended June 30, 2019. The Company's effective tax rate was 1.1% and 1.2%, respectively, for the three and six months ended June 30, 2020 and 0.6% and 0.7%, respectively, for the three and six months ended June 30, 2019. The provision for income taxes for the three and six months ended June 30, 2020 consists primarily of foreign taxes. Deferred tax assets generated from the Company’s domestic net operating losses have been fully reserved, as the Company believes it is not more likely than not that the benefit will be realized.
On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) was signed into law. The CARES Act includes provisions relating to net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations and technical corrections to tax depreciation methods for qualified improvement property. These provisions are not expected to have a material impact on the Company’s condensed consolidated financial statements.