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Income Taxes
9 Months Ended
Sep. 30, 2015
Income Taxes

4. Income Taxes

The effective tax rate for the quarter and nine months ended September 30, 2015 reflected the discrete tax effects of litigation charges, primarily related to product liability claims, which were substantially incurred in a low tax jurisdiction. See Note 7 of the notes to condensed consolidated financial statements. The effective tax rate for the nine months ended September 30, 2015 also reflected the discrete tax effects of the gain related to the proceeds received from W. L. Gore & Associates, Inc. (“Gore”), which was incurred in a high tax jurisdiction.

The effective tax rate for both the quarter and nine months ended September 30, 2014 reflected the discrete tax effects of litigation charges, primarily related to product liability claims, which were substantially incurred in a low tax jurisdiction. The effective tax rate for the nine months ended September 30, 2014 also reflected a tax benefit of $10.9 million as a result of the completion of U.S. Internal Revenue Service examinations for the tax years 2008 through 2010.

At September 30, 2015, the total amount of liability for unrecognized tax benefits related to federal, state and foreign taxes was $30.3 million (of which $27.3 million would impact the effective tax rate, if recognized) plus $2.9 million of accrued interest. At December 31, 2014, the liability for unrecognized tax benefits was $36.1 million plus $2.9 million of accrued interest. Depending upon the result of open tax examinations and/or the expiration of applicable statutes of limitation, the company believes it is reasonably possible that the total amount of unrecognized tax benefits may decrease by up to $8.5 million within the next 12 months.