Income Taxes (Tables)

3 Months Ended

Mar. 31, 2020

Income Tax Disclosure [Abstract]

Summary of Income Taxes Reconciled with Federal Statutory Rate

The estimated annual effective income tax rate differs from the U.S. federal statutory tax rate due to:

	March 31,			March 31,
	2020			2019
Federal income tax rate		21.0	%		21.0	%
Foreign earnings taxed at different rates		4.3			1.3
Nondeductible expenses		2.3			1.4
GILTI inclusion, net of foreign tax credits		2.3			(0.9	)
State income taxes, net of federal tax benefit		1.0			0.7
Change in tax contingency reserves		0.2			0.2
Interest expense deduction limitation		0.0			8.1
Other		(0.4	)		(0.4	)
Estimated annual effective income tax rate		30.7	%		31.4	%