XML 31 R19.htm IDEA: XBRL DOCUMENT v3.5.0.2
Income Taxes
6 Months Ended
Jun. 30, 2016
Income Taxes

NOTE 13 – INCOME TAXES

Income tax expense decreased by $0.3 million to $0.9 million for the three months ended June 30, 2016 from $1.2 million for the three months ended June 27, 2015. This decrease was primarily due to a decrease in pretax income during the second quarter of 2016. Our effective tax rate decreased to 21.3% for the three months ended June 30, 2016 compared with 22.7% in the prior year period. The decline in our effective tax rate was primarily due to a geographical mix shift in pretax income. Income tax expense increased by $0.4 million to $1.5 million for the six months ended June 30, 2016 from $1.1 million for the six months ended June 27, 2015. Our effective tax rate decreased by 0.5 percentage points to 18.4% for the six months ended June 30, 2016 from 18.9% for the same prior year period. The decline was driven by the geographical mix shift in pretax income. Our effective tax rate continued to be lower than the statutory tax rate in the United States, primarily as a result of our global footprint in foreign jurisdictions with lower tax rates. However, our effective tax rate could be impacted positively or negatively by geographic changes in the manufacturing or sales of our products and the resulting effect on taxable income in each jurisdiction.