(14) Income Taxes

Income tax expense based on the Company’s income before income taxes was as follows:


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2016			2015			2016			2015
	(In thousands, excluding percentages)
Income tax expense	$	9,861		$	8,744		$	17,816		$	17,208
Effective tax rate		32.9	%		37.2	%		33.4	%		36.8	%

The Company’s income tax provision for the six months ended June 30, 2016 totaled $17.8 million, or 33.4%, compared to income tax expense of $17.2 million, or 36.8%, for the six months ended June 30, 2015. The decrease in the effective tax rate for the three and six months ended June 30, 2016, when compared to the same respective periods in 2015, is attributable to the change in the mix of earnings across jurisdictions.

The Company assesses deferred tax asset valuation allowances at the end of each reporting period. The determination of whether a valuation allowance for deferred tax assets is needed is subject to considerable judgment and requires an evaluation of all available positive and negative evidence. Based on the assessment at June 30, 2016, and the weight of all available evidence, the Company concluded that maintaining the deferred tax asset valuation allowance for certain entities was appropriate, as the Company currently believes that it is more likely than not that these tax assets will not be realized.

The deferred tax benefits associated with the Company’s net unrealized gains and losses on derivative instruments and foreign currency translation adjustments have been reflected within the Accumulated other comprehensive loss, net line item in the accompanying Consolidated Balance Sheets.

As indicated in Note 1. General and Basis of Presentation – (c) Basis of Presentation, the Company adopted the new accounting guidance applicable to the balance sheet classification of deferred taxes, eliminating the requirement for organizations to present deferred tax liabilities and assets as current and noncurrent in a classified balance sheet.