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Income Taxes
9 Months Ended
Sep. 27, 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 35.0% for the nine months ended September 27, 2020 and 14.3% for the nine months ended September 29, 2019.

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

during the nine months ended September 27, 2020, the Company recorded a discrete net tax benefit of $5,290 consisting of the following:
a tax benefit of $25,302 resulting from the eOne Acquisition and related costs incurred;
tax expense of $13,680 related to revaluation of tax attributes as a result of the United Kingdom’s ("UK") enactment during the quarter of the Finance Act of 2020 which maintains the corporate income tax rate at 19%; and
tax expense of $6,332 primarily related to an increase of uncertain tax positions based on changes in management judgment.

our estimated annual ETR increased to 19.9% from 18.2% as a result of the eOne Acquisition during the first nine months of 2020, and a change in the mix of forecasted income by jurisdiction.
during the nine months ended September 29, 2019, the Company recorded a discrete net tax benefit of $31,674, of which $24,925 was associated with the settlement of the U.S. defined benefit pension plan liability and $6,749 primarily related to 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.

The Company is no longer subject to U.S. federal income tax examinations for years before 2016. 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 2014. The Company is currently under income tax examination in several U.S. state and local and non-U.S. jurisdictions.