Income Taxes (Notes)
|6 Months Ended|
Jun. 30, 2019
|Income Tax Disclosure [Abstract]|
|Income Tax Disclosure [Text Block]||
NOTE 18—INCOME TAXES
For the three months ended June 30, 2019, the Company reported an Income tax benefit in the Condensed Consolidated Statements of Operations of $3.1 million, or a negative 15.3% effective income tax rate, compared to a $2.1 million income tax expense, or a 16.6% effective income tax rate, for the three months ended June 30, 2018. For the six months ended June 30, 2019 and 2018, the effective income tax rates were 13.0% and 19.9%, respectively. The effective income tax rates for the three and six months ended June 30, 2019 were impacted by discrete items, primarily the passage of a Swiss tax reform package in May 2019 which resulted in a $6.6 million tax benefit related to the revaluation of the Company’s Swiss deferred tax assets at a higher rate.
The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef