Income taxes



	Three Months Ended September 30,					Nine Months Ended September 30,
	2016			2015		2016			2015
Continuing operations
Provision for income taxes (in millions)	$	19.5		14.1		$	43.4		37.2
Effective tax rate	43.0		%	65.9	%	60.1		%	341.3	%

2016 Compared to U.S. Statutory Rate

The effective income tax rate on continuing operations in the first nine months of 2016 was greater than the 35% U.S. statutory tax rate primarily due to the significant losses related to operations in the Republic of Ireland, for which no tax benefit can be recorded, and the nondeductible expenses resulting from the currency devaluation in Venezuela in the first nine months.

Excluding those items, our effective tax rate on continuing operations in the first nine months of 2016 is 48%. The rate is higher than 35% primarily due to book losses for which no tax benefit can be recorded, nondeductible expenses in Mexico, taxes on undistributed earnings and the characterization of a French business tax as an income tax, partially offset by the geographical mix of earnings and a French income tax credit.

2015 Compared to U.S. Statutory Rate

The effective income tax rate on continuing operations in the first nine months of 2015 was greater than the 35% U.S. statutory tax rate primarily due to the significant nondeductible expenses resulting from the currency devaluation in Venezuela in the first quarter and from the Venezuela impairment recorded in the second quarter.

Excluding these nondeductible expenses, our effective tax rate on continuing operations in the first nine months is 48%. The rate was higher than 35% primarily due to cross border payments, nondeductible expenses in Mexico and the characterization of a French business tax as an income tax, partially offset by the geographical mix of earnings and a French income tax credit.