Income Taxes |
3 Months Ended | |||
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Mar. 31, 2020 | ||||
| Income Tax Disclosure [Abstract] | ||||
| Income Taxes |
The Company files income tax returns in the U.S. federal and state jurisdictions, as well as in foreign jurisdictions. Through May 31, 2018, the Company was part of a consolidated U.S. federal income tax return and consolidated and combined state returns with its former Parent. The Company is no longer subject to U.S. federal income tax examinations for years prior to 2015. The Company is no longer subject to state and local, or foreign, income tax examinations for years prior to 2010.
The Company made cash income tax payments, net of refunds, of $3 million and $6 million for the three months ended March 31, 2020 and 2019, respectively.
The Company’s effective tax rates were 29.0% and 19.2% during the three months ended March 31, 2020 and 2019, respectively. The increase was primarily related to non-deductible restructuring charges in 2020 combined with the absence of the favorable tax impact from a settlement with state taxing authorities in the first quarter of 2019.
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- References No definition available.
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- Definition 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
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