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Income Taxes
3 Months Ended
Mar. 31, 2018
Income Taxes  
Income Taxes

Note 3 — Income Taxes

 

The Company is subject to taxation in the U.S. and various state and foreign jurisdictions. The Company remains subject to examination by U.S. federal and state and foreign tax authorities for the years 2014 through 2016. With few exceptions, the Company is no longer subject to examination by tax authorities for the year 2013 and prior. The consolidated effective tax rates were 21.8% and 29.3% in first quarter 2018 and 2017, respectively. The lower effective tax rate for first quarter 2018 compared to first quarter 2017 principally reflects the lower federal tax rate of 21% effective for 2018.

 

The Company believes it has obtained and analyzed all reasonably available information necessary to record the effects of the change in tax law and considers its accounting for the effects of the 2017 Tax Reform Act to be provisional as of March 31, 2018. The ultimate impact may differ from these provisional amounts, possibly materially, due to, among other things, additional regulatory guidance that may be issued by the Internal Revenue Service, and actions the Company may take as a result of the Tax Reform Act.