XML 31 R21.htm IDEA: XBRL DOCUMENT v3.7.0.1
Income Taxes
6 Months Ended
Jun. 30, 2017
Income Tax Disclosure [Abstract]  
Income Taxes

13.  Income Taxes

The Company’s effective tax rate was 47.0% and 44.0% for the three and six months ended June 30, 2017, respectively, compared to 37.6% and 71.4% for the three and six months ended June 30, 2016, respectively.  The effective income tax rate for the first half of 2017 and 2016 was different than the Company’s statutory rate, primarily due to losses in jurisdictions where the tax benefits are not currently recognized.   

The total amount of gross unrecognized tax benefits that would reduce the Company’s effective tax rate was $0.5 million at June 30, 2017 and December 31, 2016. Accrued interest expense included within Accrued Income Taxes in the Company's Condensed Consolidated Statements of Financial Position (Unaudited) was less than $0.1 million at both June 30, 2017 and December 31, 2016.  It is reasonably possible that the Company will recognize tax benefits within the next twelve months in the range of zero to $0.5 million resulting from the possible expiration of certain statutes of limitation.

The Company and its subsidiaries file U.S. Federal, state and local, and non-U.S. income tax returns. As of June 30, 2017, the Company is no longer subject to U.S. Federal examination by tax authorities for tax years before 2013. The Company is subject to state and local examinations for tax years of 2012 through 2016. In addition, the Company is subject to non-U.S. income tax examinations for tax years of 2011 through 2016.