INCOME TAXES

6 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES

The Company develops interim income tax provisions based on estimates of the effective tax rates expected to apply per tax domicile for the current annual reporting period. These estimates are reevaluated each quarter and updated as necessary. The tax effects of any discrete items are recorded in the period in which they occur and are excluded from the interim estimates of the effective annual rates.

The Company’s effective tax rates for the three months ended June 30, 2019 and 2018 were 25.1% and 26.0%, respectively, and 25.8% and 26.6% for the six months ended June 30, 2019 and 2018, respectively. Changes in the effective tax rates for the second quarter and first half of 2019, as compared to the same periods in 2018, were primarily driven by the amount and timing of share-based compensation deductions, the recognition of certain tax credits and the timing of the impact of certain provisions of the Tax Act applicable to our foreign jurisdictions.