Income Taxes

3 Months Ended

Mar. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

Note 13. Income Taxes

The following table provides details of income taxes (in millions, except percentages):

	Three Months Ended March 31,
	2021			2020
Income (loss) before income taxes	$	(37.8)		$	28.3
Income tax (benefit) provision	$	(6.7)		$	7.9
Effective tax rate	17.7		%	28.0		%

The Company’s effective tax rate differs from the federal statutory rate of 21% primarily due to the tax impact of state taxes, geographic mix of earnings including foreign-derived intangible income deductions and global intangible low-taxed income, research and development ("R&D") tax credits, tax audit settlements, nondeductible compensation, cost sharing of stock-based compensation, and other transfer pricing adjustments.

The Company’s effective tax rate for the three months ended March 31, 2021 reflects the loss on extinguishment of debt of $60.6 million and other restructuring charges of $19.3 million in the period.

The Company's effective tax rate for the three months ended March 31, 2020 reflected a discrete charge for non-deductible stock compensation in the period.

As of March 31, 2021, the total amount of gross unrecognized tax benefits was $117.1 million.

The Company engages in continuous discussions and negotiations with tax authorities regarding tax matters in various jurisdictions. There is a greater than remote likelihood that the balance of the gross unrecognized tax benefits will decrease by up to $11.0 million within the next twelve months due to the completion of tax review cycles in various tax jurisdictions and lapses of applicable statutes of limitation.

The Company has received notification from the Internal Revenue Service and the India tax authorities regarding the commencement of income tax audits for the 2017 through 2018 tax years and the 2017 tax year, respectively.