Income Taxes |
3 Months Ended |
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Mar. 31, 2017 | |
| Income Taxes | |
| Income Taxes |
9. INCOME TAXES
Our effective tax rates were 63.8 percent and 38.8 percent for the three months ended March 31, 2017 and 2016 respectively. The higher 2017 rate was due to a small overall pre-tax loss and the impact of discrete benefits related to share-based compensation and a legal settlement. Based on the current information, we still expect the annual ETR to be approximately 38 percent.
Our Condensed Consolidated Statements of Operations recognized a tax benefit related to discrete items of $12.6 million for the three months ended March 31, 2017. The tax benefit was comprised of two discrete items: $11.8 million for a legal settlement and $0.8 million for share-based compensation. |
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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://www.xbrl.org/2003/role/presentationRef
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