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Income Taxes (Tables) | 9 Months Ended
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Sep. 30, 2015
Income Tax Disclosure [Abstract] |
Summary Of Provision For Income Taxes |
(13) | Income Taxes
We compute and apply to ordinary income an estimated annual effective tax rate on a quarterly basis based on current and forecasted business levels and activities, including the mix of domestic and foreign results and enacted tax laws. The estimated annual effective tax rate is updated quarterly based on actual results and updated operating forecasts. Ordinary income refers to income (loss) before income tax expense excluding significant, unusual, or infrequently occurring items. The tax effect of an unusual or infrequently occurring item is recorded in the interim period in which it occurs as a discrete item of tax. The following tables summarize the provision for income taxes for the three and nine months ended September 30, 2014 and September 30, 2015:
| For the Three Months Ended September 30, 2014 |  | For the Period July 1, 2015 Through August 14, 2015 |  | For the Period August 15, 2015 Through September 30, 2015
| (Dollars in thousands)
Tax (benefit) expense | $ | 1,818 |  |  | $ | 3,353 |  |  | $ | 833 |
Pretax loss | $ | (33,125 | ) |  | $ | (38,871 | ) |  | $ | (6,470 | )
Effective tax rates | (5.5 | )% |  | (8.6 | )% |  | (12.9 | )%
| For the Nine Months Ended September 30, 2014 |  | For the Period January 1, 2015 Through August 14, 2015 |  | For the Period August 15, 2015 Through September 30, 2015
| (Dollars in thousands)
Tax (benefit) expense | $ | 3,417 |  |  | $ | 4,086 |  |  | $ | 833 |
Pretax loss | $ | (198,476 | ) |  | $ | (116,563 | ) |  | $ | (6,470 | )
Effective tax rates | (1.7 | )% |  | (3.5 | )% |  | (12.9 | )%
For the period July 1, 2015 through August 14 and the period August 15, 2015 through September 30, 2015 as well as the period January 1, 2015 through August 14, 2015 the effective tax rate differs from the U.S. statutory rate of 35% primarily due to recent losses in the U.S. and Switzerland where we receive no tax benefit due to a full valuation allowance and worldwide earnings from various countries. The recognition of the valuation allowance does not result in or limit the Company's ability to utilize these tax assets in the future. For the nine months ended September 30, 2014 the effect tax rate differs from the U.S. statutory rate of 35% primarily due to a valuation allowance setup against U.S. foreign tax credit deferred tax attributes, various state net operating loss deferred tax attributes, and the establishment of a valuation allowance against our net US deferred asset position. As of September 30, 2015, we had unrecognized tax benefits of $3.6 million, $3.4 million of which, if recognized, would have a favorable impact on our effective tax rate. We file income tax returns in the U.S. federal jurisdiction, and various state and foreign jurisdictions. All U.S. federal tax years prior to 2012 are generally closed by statute or have been audited and settled with the applicable domestic tax authorities. All other jurisdictions are still open to examination beginning after 2008. We continue to assess the realization of our deferred tax assets based on determinations of whether it is more likely than not that deferred tax benefits will be realized through the generation of future taxable income. Appropriate consideration is given to all available evidence, both positive and negative, in assessing the need for a valuation allowance. Examples of positive evidence would include a strong earnings history, an event or events that would increase our taxable income through a continued reduction of expenses, and tax planning strategies that would indicate an ability to realize deferred tax assets. In circumstances where the significant positive evidence does not outweigh the negative evidence in regards to whether or not a valuation allowance is required, we have maintained valuation allowances on those net deferred tax assets.

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
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