Income Taxes	3 Months Ended
Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 14: INCOME TAXES For the three months ended March 31, 2020, the Company recorded income tax expense of $2.9 million compared to $13.0 million in the prior year. The $2.9 million and the $13.0 million tax expense for the three months ended March 31, 2020, and 2019, respectively, primarily represents taxes at federal and local statutory rates where the Company operates, but generally excludes any tax benefit for losses in jurisdictions with historical losses. The lower effective tax rate in the first quarter of 2020 is primarily a result of a mix in earnings by jurisdiction in our first quarter pre-tax income compared to projected pre-tax income for the full year. In accordance with ASC 740, “Income Taxes,” the Company calculates its quarterly tax provision based on an estimated effective tax rate for the year, applies it to the results of each interim period and then adjusts that amount by certain discrete items. Due to volatility in macro-economic conditions associated with the COVID-19 pandemic, we may experience fluctuations in our forecasted earnings before income taxes as a result of events which cannot be predicted. As such, the Company's effective tax rate could be subject to unusual volatility as forecasted earnings before income taxes change. On March 27, 2020, President Trump signed into law the CARES Act, which, along with earlier issued IRS guidance, provides for deferral of certain taxes. The Company currently plans to defer the timing of estimated federal tax payments and payroll taxes as permitted by the CARES Act. Additionally, the Company intends to take advantage of accelerated Alternative Minimum Tax refunds as provided for in the CARES Act. As required by ASC 740, the Company assesses the realizability of its deferred tax assets. The Company records a valuation allowance when, based upon the evaluation of all available evidence, it is more-likely-than-not that all or a portion of the deferred tax assets will not be realized. In making this determination, we analyze, among other things, our recent history of earnings, the nature and timing of reversing book-tax temporary differences, tax planning strategies, and future income. The Company maintains a valuation allowance on certain foreign and U.S. federal and state deferred tax assets until such time as in management’s judgment, considering all available positive and negative evidence, the Company determines that these deferred tax assets are more likely than not realizable. The valuation allowance is reviewed quarterly and will be maintained until sufficient positive evidence exists to support the reversal of some or all of the valuation allowance. The valuation allowance was $13.7 million at March 31, 2020 and December 31, 2019. The U.S. Tax Cuts and Jobs Act (the “Act”) subjects a U.S. shareholder to tax on global intangible low-taxed income (“GILTI”) earned by certain foreign subsidiaries. The FASB Staff Q&A, Topic 740, No. 5, Accounting for Global Intangible Low-Taxed Income, states that an entity can make an accounting policy election to either recognize deferred taxes for temporary basis differences expected to reverse as GILTI in future years or provide for the tax expense related to GILTI in the year the tax is incurred. After considering the two options, the Company has elected to provide for the tax expense related to GILTI in the year the tax will occur. For the three-month periods ended March 31, 2020, and 2019, we have included tax expense of $1.2 million and $3.1 million, respectively, related to GILTI as part of our tax provision.

Income Taxes

3 Months Ended

Mar. 31, 2020

NOTE 14: INCOME TAXES

For the three months ended March 31, 2020, the Company recorded income tax expense of $2.9 million compared to $13.0 million in the prior year. The $2.9 million and the $13.0 million tax expense for the three months ended March 31, 2020, and 2019, respectively, primarily represents taxes at federal and local statutory rates where the Company operates, but generally excludes any tax benefit for losses in jurisdictions with historical losses. The lower effective tax rate in the first quarter of 2020 is primarily a result of a mix in earnings by jurisdiction in our first quarter pre-tax income compared to projected pre-tax income for the full year.

In accordance with ASC 740, “Income Taxes,” the Company calculates its quarterly tax provision based on an estimated effective tax rate for the year, applies it to the results of each interim period and then adjusts that amount by certain discrete items. Due to volatility in macro-economic conditions associated with the COVID-19 pandemic, we may experience fluctuations in our forecasted earnings before income taxes as a result of events which cannot be predicted. As such, the Company's effective tax rate could be subject to unusual volatility as forecasted earnings before income taxes change.

On March 27, 2020, President Trump signed into law the CARES Act, which, along with earlier issued IRS guidance, provides for deferral of certain taxes. The Company currently plans to defer the timing of estimated federal tax payments and payroll taxes as permitted by the CARES Act. Additionally, the Company intends to take advantage of accelerated Alternative Minimum Tax refunds as provided for in the CARES Act.

As required by ASC 740, the Company assesses the realizability of its deferred tax assets. The Company records a valuation allowance when, based upon the evaluation of all available evidence, it is more-likely-than-not that all or a portion of the deferred tax assets will not be realized. In making this determination, we analyze, among other things, our recent history of earnings, the nature and timing of reversing book-tax temporary differences, tax planning strategies, and future income. The Company maintains a valuation allowance on certain foreign and U.S. federal and state deferred tax assets until such time as in management’s judgment, considering all available positive and negative evidence, the Company determines that these deferred tax assets are more likely than not realizable. The valuation allowance is reviewed quarterly and will be maintained until sufficient positive evidence exists to support the reversal of some or all of the valuation allowance. The valuation allowance was $13.7 million at March 31, 2020 and December 31, 2019.

The U.S. Tax Cuts and Jobs Act (the “Act”) subjects a U.S. shareholder to tax on global intangible low-taxed income (“GILTI”) earned by certain foreign subsidiaries. The FASB Staff Q&A, Topic 740, No. 5, Accounting for Global Intangible Low-Taxed Income, states that an entity can make an accounting policy election to either recognize deferred taxes for temporary basis differences expected to reverse as GILTI in future years or provide for the tax expense related to GILTI in the year the tax is incurred. After considering the two options, the Company has elected to provide for the tax expense related to GILTI in the year the tax will occur. For the three-month periods ended March 31, 2020, and 2019, we have included tax expense of $1.2 million and $3.1 million, respectively, related to GILTI as part of our tax provision.