XML 26 R14.htm IDEA: XBRL DOCUMENT v3.7.0.1
Income Taxes
3 Months Ended
Mar. 31, 2017
Income Tax Disclosure [Abstract]  
Income Taxes

9. Income Taxes

 

The Company’s forecasted effective tax rate at March 31, 2017 is 30.9%, a 6.1% decrease from the 37.0% effective tax rate recorded at December 31, 2016. The forecasted effective tax rate of 30.9% excludes jurisdictions for which no benefit from forecasted current year losses is anticipated. Including losses from such jurisdictions results in a forecasted effective tax rate of 32.9%. Our forecasted effective tax rate could fluctuate significantly on a quarterly basis and could change, to the extent that earnings in countries with tax rates that differ from that of the U.S. differ from amounts anticipated at March 31, 2017.

 

After a discrete tax expense of $6, the effective tax rate for the quarter ended March 31, 2017 is (10.7)%, which is due primarily to losses in certain foreign jurisdictions which cannot be benefited. The discrete tax expense of $6 is primarily attributable to interest and penalties on unrecognized tax benefits.