XML 16 R19.htm IDEA: XBRL DOCUMENT v3.19.3
Income Taxes
9 Months Ended
Sep. 30, 2019
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes

The Company's effective tax rate for the first nine months of 2019 was 23.4% compared with 21.5% in the first nine months of 2018 and 19.9% for the full year 2018. The increase in the first nine months of 2019 effective tax rate from the full year 2018 rate is primarily due to the absence of adjustments to certain international valuation reserves and final adjustments resulting from the impact of the Tax Cuts and Jobs Act (the “Act”).

The Aerospace and Industrial Segments have a number of multi-year tax holidays in both Singapore and China. These holidays are subject to the Company meeting certain commitments in the respective jurisdictions.