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Income Taxes | 9 Months Ended
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Sep. 30, 2018
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes Income tax expense was $5.9 million for the third quarter of 2018 and income tax benefit was $4.1 million for the third quarter of 2017. Income tax benefit was $3.3 million for September year to date 2018 and income tax expense was $0.1 million for September year to date 2017. Income taxes in the third quarter of 2018 were impacted by a gain on the Persol Holdings investment, while the third quarter of 2017 benefited from the release of a valuation allowance in Germany. Income taxes for September year to date of 2018 benefited from a lower U.S. tax rate and a loss on the Persol Holdings investment. Our tax expense is affected by recurring items, such as the amount of pretax income and its mix by jurisdiction, U.S. work opportunity credits and the change in cash surrender value of non-taxable investments in life insurance policies. It is also affected by discrete items that may occur in any given period but are not consistent from period to period, such as tax law changes, changes in judgment regarding the realizability of deferred tax assets, or the tax effects of stock compensation. With the Company’s adoption of ASU 2016-01 in the first quarter of 2018, changes in the fair value of the Company’s investment in Persol Holdings are now recognized in the consolidated statements of earnings. These investment gains or losses are treated as discrete since they cannot be estimated. At year-end 2017, the Company anticipated that the one-time transition tax under the U.S. Tax Cuts and Jobs Act (“the Act”) would be zero. In accordance with SEC Staff Accounting Bulletin 118, a provisional amount of zero was recorded due to the need for additional analysis of historical data. As of the end of the third quarter 2018, we have completed our analysis and finalized our transition tax calculation. Consistent with our estimate at year-end, the transition tax is zero.

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- 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
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