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Income Taxes
3 Months Ended
Mar. 31, 2019
Income Taxes  
Income Taxes

Note 12.  Income Taxes

 

The income tax provision was $0.5 million during the three months ended March 31, 2019, a decrease of $3.1 million, when compared to the three months ended March 31, 2018. Of the $3.1 million decrease, $2.3 million was attributable to the decrease in pretax income of $10.9 million, $0.3 million related to an increase in excess tax benefit on the exercise of non-qualified stock options and the vesting of restricted stock and a $0.3 million tax benefit recognized upon the expiration of the statute of limitations regarding an uncertain tax position previously recorded. The related interest and penalties previously recorded were reversed resulting in a reduction of interest expense of $0.1 million.

 

We have significant net operating loss carryforwards in the United States and certain European jurisdictions, and, as a result, we do not currently pay significant income taxes in those jurisdictions. Tax expense reflects the tax liability that would be payable without consideration of the usage of any net operating loss carryforwards. At December 31, 2018, we had $71.9 million of deferred tax assets worldwide relating to net operating loss carryforwards, tax credit carryforwards and other temporary differences, which are available to reduce income tax liabilities in future years. As of March 31, 2019, there were no known facts, that when considered, would require us to change our position on our ability to realize our deferred tax assets.