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Income Taxes
6 Months Ended
Jun. 28, 2020
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company and its subsidiaries file income tax returns in the United States and various state and international jurisdictions. In the normal course of business, the Company is regularly audited by U.S. federal, state and local, and international tax authorities in various tax jurisdictions.
Our effective tax rate ("ETR") from continuing operations was 12.9% for the six months ended June 28, 2020 and (12.5)% for the six months ended June 30, 2019.

The following items caused the year to date ETR to be significantly different from the prior year ETR:

during the six months ended June 28, 2020, the Company recorded a discrete net tax benefit of $24,002, of which $24,079 is a result of the eOne acquisition and related costs incurred. Additionally, our estimated annual ETR increased to 20.5% from 18.3% as a result of the eOne acquisition during the first six months of 2020, and a change in the mix of forecasted income by jurisdiction.

during the six months ended June 30, 2019, the Company recorded a discrete net tax benefit of $31,263 primarily associated with the settlement of the U.S. defined benefit pension plan liability, excess tax benefits on share-based payments and expiration of statutes of limitation of uncertain tax positions.

In May 2019, a public referendum held in Switzerland approved Swiss Federal Act on Tax Reform and AHV Financing ("TRAF") proposals previously approved by Swiss Parliament. The Swiss tax reform measures were effective on January 1, 2020. Changes in tax reform include the abolishment of preferential tax regimes for holding companies, domicile companies and mixed companies at the cantonal level. The enacted changes in Swiss federal tax were not material to the Company's consolidated financial statements. Swiss cantonal tax was enacted in December 2019. The Company is still assessing the transitional provision options it may elect; however, the legislation is not expected to have a material effect on the Company’s consolidated financial statements. We will continue to review TRAF as the Swiss authorities provide additional interpretive guidance on the new law and related transitional methodology.

The Company is subject to U.S. federal income tax examinations for years 2013 and 2016 forward. With few exceptions, the Company is no longer subject to U.S. state or local and non-U.S. income tax examinations by tax authorities in its major jurisdictions for years before 2013. The Company is currently under income tax examination in several U.S. state and local and non-U.S. jurisdictions.