Quarterly report pursuant to Section 13 or 15(d)

INCOME TAXES

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INCOME TAXES
3 Months Ended
Jun. 30, 2019
Income Tax Disclosure [Abstract]  
INCOME TAXES
NOTE 10: INCOME TAXES
The effective tax rate for the three months ended June 30, 2019 and 2018 was (9.7)% and 7.1%, respectively. Income tax provisions for each of these periods reflect expenses for foreign income taxes and state taxes and differed from the federal statutory rate of 21% in both periods due primarily to unbenefited losses experienced in jurisdictions with valuation allowances on deferred tax assets as well as the forecasted mix of earnings in domestic and international jurisdictions.
As of June 30, 2019, including interest and penalties, the Company had $117.5 million of unrecognized tax benefits, $99.3 million of which, if recognized, would favorably affect the effective tax rate. As of June 30, 2019, the Company had accrued interest and penalties related to these unrecognized tax benefits of $1.0 million. The Company’s practice is to recognize interest and penalties related to income tax matters in the income tax provision in the Condensed Consolidated Statements of Operations. As of June 30, 2019, $111.7 million of unrecognized tax benefits were recorded as a contra deferred tax asset in other long-term assets and $5.8 million (including interest and penalties) was recorded in other long-term liabilities in the Condensed Consolidated Balance Sheets. The Company does not believe it is likely that the unrecognized tax benefits would materially change in the next 12 months.