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Taxation
3 Months Ended
Mar. 31, 2017
Income Tax Disclosure [Abstract]  
Taxation
Taxation 

For the three months ended March 31, 2017, the effective tax rate on income from continuing operations was 2% (2016: 17%).

The effective tax rate for the three months ended March 31, 2017 is affected by the combined impact of the relative quantum of the profit before tax by jurisdiction for the period with significant integration costs incurred in higher tax territories.  Additionally, discrete events in the first quarter of 2017, including the tax benefit from employee exercises of stock compensation, which is now required to be recorded as a discrete item in the quarter in which it occurs, contributed to the low rate.

The effective tax rate for the three months ended March 31, 2016 was impacted primarily by the adverse impact of a one-time re-measurement of deferred tax as a result of the acquisition of Dyax.