Income Taxes

6 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Abstract]

Income Taxes

17. Income Taxes

The following table presents the (benefit from) provision for income taxes for the respective periods:

	Three Months Ended June 30,						Six Months Ended June 30,
(dollars in thousands)	2019			2018			2019			2018
(Benefit from) provision for income taxes	$	(31,760	)	$	2,796		$	(40,925	)	$	(1,335	)
Effective tax rate		25.3	%		(85.1	)%		24.7	%		7.8	%

Our effective tax rate for the three and six months ended June 30, 2019 increased to 25.3% from (85.1)% and to 24.7% from 7.8%, respectively, when compared to the same periods in 2018. This change was primarily due to a discrete tax benefit on the decrease to project profitability recorded in the second quarter of 2019 as it related to four legacy, unconsolidated heavy civil joint venture projects compared to a discrete tax expense on one-time nondeductible acquisition and integration expenses recorded in the second quarter of 2018. Of the $161.1 million decrease to project profitability for the three months ended June 30, 2019 (see Note 4), $143.7 million is discrete to the second quarter of 2019 which resulted in a discrete tax benefit of $37.0 million.