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Income Taxes
3 Months Ended
Mar. 31, 2019
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes
The Company’s effective tax rates yielded a net expense of 16.4% and 25.8% for the three months ended March 31, 2019 and 2018, respectively.  In the three months ended March 31, 2019, the impact of discrete items decreased the effective tax rate for the three months ended March 31, 2019 by 1.2%. In the three months ended March 31, 2018, the Company incurred a discrete tax expense related primarily to the gain on Sale of Webdam, the net effect of which increased the effective tax rate for the three months ended March 31, 2018 by 9.6%.
The Company has computed the provision for income taxes based on the estimated annual effective tax rate and the application of discrete items, if any, in the applicable period. The estimated annual effective tax rate differs from the statutory tax rate due primarily to the international provisions enacted as part of the Tax Cuts and Jobs Act of 2017.
During the three months ended March 31, 2019 and 2018, uncertain tax positions recorded by the Company were not material. To the extent the remaining uncertain tax positions are ultimately recognized, the Company’s effective tax rate may be impacted in future periods.
The Company recognizes interest expense and tax penalties related to unrecognized tax benefits in income tax expense in the Consolidated Statements of Operations. The Company’s accrual for interest and penalties related to unrecognized tax benefits was not material for the three months ended March 31, 2019 and 2018.
During the three months ended March 31, 2019, the Company paid net cash taxes of $0.3 million and during the three months ended March 31, 2018, the Company received net cash tax refunds of $1.8 million.