INCOME TAXES	3 Months Ended
Mar. 31, 2019
INCOME TAXES
INCOME TAXES	NOTE 5 – INCOME TAXES Based on current tax laws, our estimated annual effective tax rate for 2019, excluding discrete tax impacts, is 30.4%. This rate reflects the mix of pre-tax income in various non-U.S. jurisdictions and the reduced U.S. federal tax rate, offset by unfavorable provisions within the U.S. tax law and U.S. state income tax increases. The reported effective tax rate for the three months ended March 31, 2019 was 30.0%, as the impact of discrete tax items in the period were largely offsetting. The reported effective tax rate for the three months ended March 31, 2018 was 27.0%. The prior year tax rate was favorably impacted by $4.4 million of tax benefits from employee share-based compensation.

INCOME TAXES

3 Months Ended

Mar. 31, 2019

NOTE 5 – INCOME TAXES

Based on current tax laws, our estimated annual effective tax rate for 2019, excluding discrete tax impacts, is 30.4%. This rate reflects the mix of pre-tax income in various non-U.S. jurisdictions and the reduced U.S. federal tax rate, offset by unfavorable provisions within the U.S. tax law and U.S. state income tax increases. The reported effective tax rate for the three months ended March 31, 2019 was 30.0%, as the impact of discrete tax items in the period were largely offsetting. The reported effective tax rate for the three months ended March 31, 2018 was 27.0%. The prior year tax rate was favorably impacted by $4.4 million of tax benefits from employee share-based compensation.