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Income Taxes
6 Months Ended
Jun. 30, 2017
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes
 
The Company’s effective tax rate was 28.7% and 32.0% for the quarters ended June 30, 2017 and 2016, and 23.9% and 32.5% for the six months ended June 30, 2017 and 2016, respectively. The difference in the Company’s effective tax rate for the quarter ended June 30, 2017 compared to the quarter ended June 30, 2016 was primarily related to a more favorable mix of income in lower taxed jurisdictions during the quarter ended June 30, 2017. The difference in the Company's effective tax rate for the six months ended June 30, 2017 compared to the six months ended June 30, 2016 was primarily related to tax benefits from stock compensation of $1.6 million for the six months ended June 30, 2017 compared to $0.3 million for the six months ended June 30, 2016 and a more favorable mix of income in lower taxed jurisdictions during the six months ended June 30, 2017.
The Company and its subsidiaries file a consolidated federal income tax return, as well as returns required by various state and foreign jurisdictions. In the normal course of business, the Company is subject to examination by taxing authorities, including such major jurisdictions as the United States, France, Germany, China, the United Kingdom, the Netherlands and Canada. Within the next 12 months, it is reasonably possible that the Company could conclude certain federal income tax matters through the year ended December 31, 2014. If concluded, it is reasonably possible that net unrecognized benefits of up to $1.5 million may be recognized. With few exceptions, the Company is no longer subject to U.S. federal examinations for years before 2013, state and local examinations for years before 2012, and non-U.S. income tax examinations for years before 2003.
The Company’s effective tax rates in future periods could be affected by earnings being higher or lower in countries where tax rates differ from the United States federal tax rate, the relative impact of permanent tax adjustments on higher or lower earnings from domestic operations, changes in net deferred tax asset valuation allowances, stock vesting, the completion of acquisitions or divestitures, changes in tax rates or tax laws and the completion of tax projects and audits.