Income Taxes

6 Months Ended

Sep. 30, 2019

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

During the three months ended September 30, 2019, the Company recognized $1.7 million of income tax expense, comprised of $3.0 million of income tax expense related to foreign operations, $1.5 million of federal income tax benefit, and $0.2 million of state income tax expense. During the six months ended September 30, 2019, the Company recognized $18.5 million of income tax expense, comprised of $8.7 million of income tax expense related to foreign operations, $9.5 million of federal income tax expense, and $0.3 million of state income tax expense.

During the three months ended September 30, 2018, the Company recognized $2.0 million of income tax expense, solely comprised of $2.0 million of income tax expense related to foreign operations. The $2.0 million of income tax expense related to foreign operations included a $1.2 million benefit related to the final settlement of an uncertain tax position. During the six months ended September 30, 2018, the Company recognized $6.6 million of income tax expense, comprised of $6.7 million of income tax expense related to foreign operations and $0.2 million of federal income tax expense, offset by $0.3 million of state income tax benefit. The $6.7 million of income tax expense related to foreign operations included a $0.3 million expense related to the settlement of an uncertain tax position.

The effective tax rates differ from income taxes recorded using a statutory rate largely due to the impact of certain nondeductible items, the relative mix in earnings and losses in various tax jurisdictions, the usage of the net operating losses, and reversal of associated valuation allowances previously recorded on the deferred tax assets.