Income Taxes |
3 Months Ended |
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Mar. 31, 2020 | |
| Income Taxes | |
| Income Taxes |
9. INCOME TAXES Our effective tax rates were 17.4 percent and 19.8 percent for the three months ended March 31, 2020 and 2019, respectively. The lower 2020 effective tax rate is due to a larger impact of the discrete benefits related to share-based compensation. A tax benefit of $5.5 million and $2.2 million related to share-based compensation was recognized in our condensed consolidated statements of operations as a discrete item in income tax expense for the three months ended March 31, 2020 and 2019, respectively. At March 31, 2020, the net deferred tax liability of $169.8 million consisted of net long-term deferred tax assets of $4.4 million and net long-term deferred tax liabilities of $174.2 million. The decrease in the net deferred tax liability was primarily related to the adoption of ASU 2016-13. |
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- References No definition available.
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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. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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