Income Taxes (Tables)

6 Months Ended

Jun. 30, 2020

Schedule Of Effective Income Tax Rate For Continuing Operations

The significant differences between the U.S. federal statutory rate and the effective income tax rate for the six months ended June 30, 2020 and 2019 are as follows:


(In thousands, except percentages)	2020					2019
Six Months Ended June 30,	Amount		%	Amount		%
Income tax (benefit) expense at federal statutory rate	$	(3,066)	21.0	$	8,972	21.0
Foreign tax incentives	(2,630)		18.0	(1,074)		(3.0)
Changes in estimates related to prior year tax provision	(592)		4.1	152		0.4
Research and development tax credit	(487)		3.3	(255)		(0.7)
State taxes, net of federal income tax benefit	(179)		1.2	468		1.1
Valuation allowance due to foreign losses and impairments	(209)		1.4	(1,353)		(3.7)
Tax impact of dividend received	—		—	(919)		(2.2)
Tax contingency accruals and tax settlements	(148)		1.0	(154)		(0.4)

Foreign Derived Intangible Income (FDII)	—		—	(445)		(1.2)
Valuation allowance for capital loss carry-forwards	40		(0.3)	—		—
Non-deductible expenses	375		(2.6)	217		0.6
Stock-based compensation	247		(1.7)	(141)		(0.4)
U.S. Tax on Foreign Branch Income	534		(3.7)	1,808		5.0
Foreign rate differences	2,510		(17.0)	1,191		3.3


Unremitted earnings from foreign operations	128		(0.9)	—		—










Income tax expense (benefit) at effective income tax rate	$	(3,477)	23.8	$	8,467	19.8