Income Taxes
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9 Months Ended |
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Sep. 30, 2013
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Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes Provision for income taxes was $32.0 million resulting in an effective tax rate of 29.5 percent compared to a provision of $29.9 million resulting in an effective tax rate of 22.0 percent for the three months ended September 30, 2013 and 2012, respectively. The change in the effective tax rate was primarily impacted by the mix of income among subsidiaries and tax charges associated with the expected sale of our discontinued FMC Peroxygens segments discussed below. Provision for income taxes was $113.1 million resulting in an effective tax rate of 25.3 percent compared to a provision of $113.2 million resulting in an effective tax rate of 24.2 percent for the nine months ended September 30, 2013 and 2012, respectively. The change in the effective tax rate was consistent with the change in the three months ended September 30, 2013, as discussed in the previous paragraph. In the third quarter of 2013, we changed our assertion on unremitted earnings for certain foreign subsidiaries as a result of our expected sale of our discontinued FMC Peroxygens segment. Therefore, as of September 30, 2013, we provided deferred tax liabilities of approximately $4.0 million attributable to taxable temporary differences from those unremitted earnings and the intended repatriation of proceeds earned on the sale. We have not provided income taxes on our equity of undistributed earnings of our other foreign subsidiaries or affiliates since our intention remains that such earnings will be permanently reinvested. |