INCOME TAXES	9 Months Ended
Sep. 30, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company utilizes an estimated annual effective tax rate for calculating a tax provision under ASC 740-270. That rate is applied to year-to-date ordinary income or loss in order to compute the year-to-date income tax provision. For the three months ended September 30, 2019, the Company recognized a net tax benefit of $45.2 million primarily attributed to the quarter fluctuations in the mix and timing of our profits and losses on a territorial basis when applying the estimated annual effective tax rate to the year-to-date earnings. The Company utilizes the asset and liability method of accounting for income taxes. Under this method, deferred taxes are determined based on the difference between the financial statement and tax bases of assets and liabilities using tax rates expected to be in effect in the years in which the differences are expected to reverse. A valuation allowance is recorded to reduce deferred tax assets to the amount that is more likely than not to be realized. The Company’s Dutch subsidiary had a full valuation allowance against a deferred tax asset of $29.6 million at December 31, 2018. Historical earnings, future taxable income and ongoing prudent and feasible tax planning strategies have been considered in assessing the need for the valuation allowance; and based on projected income and other key operating factors, the Company concluded in the second quarter of 2019 that it is more likely than not that the benefit of these deferred tax assets would be realized. As a result, the amount of the valuation allowance related to the deferred tax assets that are expected to be realized was reversed in the second quarter of 2019, resulting in a net tax benefit of $27.1 million recognized during the nine months ended September 30, 2019.

INCOME TAXES

9 Months Ended

Sep. 30, 2019

The Company utilizes an estimated annual effective tax rate for calculating a tax provision under ASC 740-270. That rate is applied to year-to-date ordinary income or loss in order to compute the year-to-date income tax provision. For the three months ended September 30, 2019, the Company recognized a net tax benefit of $45.2 million primarily attributed to the quarter fluctuations in the mix and timing of our profits and losses on a territorial basis when applying the estimated annual effective tax rate to the year-to-date earnings.

The Company utilizes the asset and liability method of accounting for income taxes. Under this method, deferred taxes are determined based on the difference between the financial statement and tax bases of assets and liabilities using tax rates expected to be in effect in the years in which the differences are expected to reverse. A valuation allowance is recorded to reduce deferred tax assets to the amount that is more likely than not to be realized. The Company’s Dutch subsidiary had a full valuation allowance against a deferred tax asset of $29.6 million at December 31, 2018. Historical earnings, future taxable income and ongoing prudent and feasible tax planning strategies have been considered in assessing the need for the valuation allowance; and based on projected income and other key operating factors, the Company concluded in the second quarter of 2019 that it is more likely than not that the benefit of these deferred tax assets would be realized. As a result, the amount of the valuation allowance related to the deferred tax assets that are expected to be realized was reversed in the second quarter of 2019, resulting in a net tax benefit of $27.1 million recognized during the nine months ended September 30, 2019.