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Taxation
6 Months Ended
Jun. 30, 2018
Income Tax Disclosure [Abstract]  
Taxation
Taxation 

For the three and six months ended June 30, 2018, the effective tax rate on income from continuing operations was 17% (2017: 9%) and 13% (2017:5%), respectively.

The effective tax rate for the three and six months ended June 30, 2018 has been affected by certain provisions of the U.S. Tax Cuts and Jobs Act (Tax Act) passed in December 2017, which enacts a U.S. federal tax rate of 21% along with anti-deferral provisions and new limitations on certain deductions required under the Tax Act. Due to enactment late in the Company’s annual 2017 reporting period, the Company included provisional amounts in its annual financial statements for the year ended December 31, 2017. The Company continued to assess the impact of the Tax Act during the three and six months ended June 30, 2018 and recorded an adjustment of $22.0 million to its provisional estimates related to the remeasurement of deferred tax assets and liabilities. This remeasurement reduced the effective tax rate for the three and six months ended June 30, 2018 by nil and 1%, respectively.

It is expected that additional interpretive guidance will be issued that may change how the Company has computed the provisional amounts for the year ended December 31, 2017. The Company will continue to assess the impact of the Tax Act during the measurement period and will record any adjustments to its provisional estimates as needed during the remainder of 2018 and continues to assert that all amounts recorded and disclosed to date remain provisional.

The effective tax rate for the three and six months ended June 30, 2017 was affected by the combined impact of the
relative quantum of the profit before tax for the period by jurisdiction as well as significant acquisition and integration costs.