INCOME TAXES

Our effective income tax rates for the nine months ended September 30, 2015 and 2014 are as follows:



	Nine Months Ended September 30,
	2015		2014
Effective Tax Rate	45.2	%	35.0	%

The higher effective tax rate for the nine months ended September 30, 2015 was primarily due to the impact of currency exchange gains and losses, as well as the unfavorable tax impact associated with the non-deductible $30.6 million pre-tax impairment charge recorded in Venezuela. In addition, the company recorded $5.0 million in tax benefits during the three months ended September 30, 2015 which related to prior periods. The Company concluded the error was not material to the current or previously reported periods.