Income Taxes |
6 Months Ended |
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Jun. 30, 2019 | |
| Income Taxes | |
| Income Taxes |
8. INCOME TAXES Our effective tax rates were 22.2% and 21.2% for the three and six months ended June 30, 2019, respectively. The effective tax rates for the three and six months ended June 30, 2018, were 25.5% and 21.3%, respectively. The lower 2019 tax rate for the three months ended June 30, 2019 compared to the three months ended June 30, 2018 was due to a larger impact of the discrete benefits related to share-based compensation. Our condensed consolidated statements of operations recognized a discrete tax benefit of $1.6 million and $3.8 million related to share-based compensation for the three and six months ended June 30, 2019, respectively. At June 30, 2019, the net deferred tax liability of $162.3 million consisted of net long-term deferred tax assets of $12.0 million and net long-term deferred tax liabilities of $174.3 million. The decrease of the net deferred tax liability was primarily related to purchase accounting adjustments in connection with the acquisition of USI and related tax elections. |
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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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