INCOME TAXES	6 Months Ended
Jun. 30, 2020
INCOME TAXES
INCOME TAXES	NOTE 5 – INCOME TAXES The tax provision for interim periods is determined using the estimated annual effective consolidated tax rate, based on the current estimate of full-year earnings and related estimated full year-taxes, adjusted for the impact of discrete quarterly items. The effective tax rate for the three months ended June 30, 2020 and 2019, respectively, was 31.0% and 27.6%. The effective tax rate for the three months ended June 30, 2019 was favorably impacted by net tax benefits of $2.9 million from discrete events. This consisted of a $9.1 million benefit from the excess tax benefits from employee share-based compensation offset by, among other items, a $6.3 million charge to record a valuation allowance to properly reflect the realization of recorded deferred tax assets. The effective tax rate for the six months ended June 30, 2020 and 2019, respectively, was 30.0% and 28.7%. The effective tax rate for the six months ended June 30, 2020 reflects a favorable impact of net tax benefits of $4.6 million, primarily from the excess tax benefits from employee share-based compensation. This is offset by the unfavorable impact from the mix of earnings, particularly losses in jurisdictions where we cannot record the tax benefit. The effective tax rate for the six months ended June 30, 2019 was favorably impacted by net tax benefits of $4.1 million from discrete events. This consisted of a favorable impact of $11.6 million from the excess tax benefits from employee share-based compensation, offset by, among other items, a $7.0 million charge recognized to record a valuation allowance to properly reflect the realization of recorded deferred tax assets.

INCOME TAXES

6 Months Ended

Jun. 30, 2020

NOTE 5 – INCOME TAXES

The tax provision for interim periods is determined using the estimated annual effective consolidated tax rate, based on the current estimate of full-year earnings and related estimated full year-taxes, adjusted for the impact of discrete quarterly items.

The effective tax rate for the three months ended June 30, 2020 and 2019, respectively, was 31.0% and 27.6%. The effective tax rate for the three months ended June 30, 2019 was favorably impacted by net tax benefits of $2.9 million from discrete events. This consisted of a $9.1 million benefit from the excess tax benefits from employee share-based compensation offset by, among other items, a $6.3 million charge to record a valuation allowance to properly reflect the realization of recorded deferred tax assets.

The effective tax rate for the six months ended June 30, 2020 and 2019, respectively, was 30.0% and 28.7%. The effective tax rate for the six months ended June 30, 2020 reflects a favorable impact of net tax benefits of $4.6 million, primarily from the excess tax benefits from employee share-based compensation. This is offset by the unfavorable impact from the mix of earnings, particularly losses in jurisdictions where we cannot record the tax benefit. The effective tax rate for the six months ended June 30, 2019 was favorably impacted by net tax benefits of $4.1 million from discrete events. This consisted of a favorable impact of $11.6 million from the excess tax benefits from employee share-based compensation, offset by, among other items, a $7.0 million charge recognized to record a valuation allowance to properly reflect the realization of recorded deferred tax assets.