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INCOME TAXES
6 Months Ended
Sep. 30, 2020
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
Generally, the Company's effective tax rate differs from the statutory tax rate due to state income taxes, foreign withholding taxes, and US taxation on foreign earnings, which are partially offset by research and development tax credits, foreign tax credits and the Foreign Derived Intangible Income deduction.
The Company's effective income tax rates were 1,057.4% and 60.1% for the three months ended September 30, 2020 and 2019, respectively. The effective tax rate for the three months ended September 30, 2020 differed from the effective tax rate for the three months ended September 30, 2019, primarily due to generating a significant pre-tax loss in the three months ended September 30, 2019 when compared to the pre-tax income generated during the three months ended September 30, 2020.
The Company's effective income tax rates were 11.8% and 17.7% for the six months ended September 30, 2020 and 2019, respectively. The effective tax rate for the six months ended September 30, 2020 differed from the effective tax rate for the six months ended September 30, 2019, primarily due to a significant discrete tax expense related to elections made to treat several of the Company's foreign subsidiaries as U.S. branches for federal income tax purposes in the six months ended September 30, 2019. As a result, the Company recorded additional tax expense for the three and six months ended September 30, 2019 due to establishing new U.S. net deferred tax liabilities resulting from the differences between the GAAP basis and the U.S. federal tax basis of the existing assets and liabilities of those foreign subsidiaries.