XML 31 R19.htm IDEA: XBRL DOCUMENT

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesIn determining the quarterly provision for income taxes, management uses an estimated annual effective tax rate based on forecasted annual pre-tax income, permanent tax differences, statutory tax rates and tax planning opportunities in the various jurisdictions in which the Company operates. The effect of significant discrete items is separately recognized in the quarter(s) in which they occur. For the three month periods ended June 30, 2021 and 2020, the Company’s consolidated effective tax rates were 26.3% and 26.7%, respectively. For the six month periods ended June 30, 2021 and 2020, the Company’s consolidated effective tax rates were 28.4% and 18.6%, respectively. The Company’s effective tax rate for the six month period ended June 30, 2021 included the negative effect of $2.3 million related to non-deductible share-based compensation, and for the six month period ended June 30, 2020, benefited from the release of approximately $9.6 million of certain valuation allowances on Canadian deferred tax assets that were no longer necessary.

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.

+ References + Details