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Income Taxes

6 Months Ended

Jun. 30, 2020

Our effective tax rates were as follows:



	Second Quarter				First Six Months
(in millions)	2020		2019		2020		2019
Effective tax rate	26.6	%	24.5	%	25.7	%	25.6	%

For the second quarter of 2020, the provision for income taxes was higher than the second quarter of 2019 primarily due to the decrease in the valuation of the Company's deferred tax liabilities and decrease of income tax reserves in the second quarter of 2019.

For the first six months of 2020, the provision for income taxes was higher than the first six months of 2019 primarily due to the tax benefit received in the first six months of 2019 from the valuation allowance release on realizability of foreign net operating loss carryforwards, which was offset by the tax benefit received from the Company’s jurisdictional income mix through the first six months of 2020.

- 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.

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