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Income Taxes (Notes)
6 Months Ended
Jun. 30, 2020
Income Tax Disclosure [Abstract]  
Income Taxes
Income taxes for the interim periods presented have been included in the accompanying Consolidated Financial Statements on the basis of an estimated annual effective tax rate ("ETR"). The determination of the consolidated provision for income taxes requires management to make certain judgments and estimates. Changes in the estimated level of annual pre-tax earnings or loss, tax laws, and changes resulting from tax audits can affect the overall ETR, which impacts the level of income tax expense or benefit and net income or loss. Judgments and estimates related to the Company’s projections and assumptions are inherently uncertain and therefore, actual results could differ materially from projections.

The Company's ETR from continuing operations for the three and six months ended June 30, 2020 was a 6.0% provision and an 11.4% provision, respectively. The Company's ETR from continuing operations for the three and six months ended June 30, 2019 was a 36.6% provision and a 65.2% provision, respectively. The Company accrues taxes in various countries where it generates income and applies a valuation allowance in other jurisdictions (primarily the U.S.), which resulted in the provision for both the three and six months ended June 30, 2020 and 2019.

The Company's ETR is favorably impacted by tax holidays granted to the Company in Malaysia effective through December 31, 2021. These tax holidays are subject to the Company's annual satisfaction of certain conditions, including investment and sales thresholds. If the Company fails to satisfy such conditions, the Company's ETR may be significantly adversely impacted. The continuing operations benefit of our tax holidays in Malaysia for the three and six months ended June 30, 2020 was approximately $0.2 million and $1.5 million, respectively, or $0.01 and $0.02 on a per share basis. The continuing operations benefit of these incentives for the three and six months ended June 30, 2019 was approximately $4.5 million and $7.9 million, respectively, or $0.05 and $0.09 on a per share basis.