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Income Taxes
6 Months Ended
Sep. 30, 2020
Income Tax Disclosure [Abstract]  
Income Tax Disclosure
13.    Income Taxes

Income tax expense (benefit) as a percentage of income (loss) from continuing operations before income tax expense was 1% and 24% in the quarters ended September 30, 2020 and September 30, 2019, respectively, and 12% and 23% for the six-month periods then ended, respectively. Typically these percentages vary from the U.S. statutory rate of 21% primarily due to varying effective tax rates at the Company's foreign subsidiaries, and the jurisdictional mix of taxable income for these subsidiaries.

For both the three months and six months ended September 30, 2020, the rates are lower than the U.S. statutory rate as a result of the impacts associated with pre-tax losses in the U.S. related to the pension settlement expense recorded in the U.S. of $16,324,000 for the quarter and $19,046,000 for the year, respectively, the U.S. R&D credit, and the utilization of net operating losses that previously had a full valuation allowance against them.

The Company estimates that the effective tax rate related to continuing operations will be approximately 10% to 12% for fiscal 2021.

Refer to the Company’s consolidated financial statements included in its 2020 10-K for further information on income taxes.