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Taxes
3 Months Ended
Dec. 31, 2017
Income Tax Disclosure [Abstract]  
Taxes
Taxes

For the three months ended December 31, 2017 and 2016, the Company recorded tax expense of $9.0 million and $4.9 million, respectively. The effective tax rate was 70.9% and 32.7% for the three months ended December 31, 2017 and 2016, respectively.

On December 22, 2017, the United States Congress enacted tax reform legislation known as H.R.1, commonly referred to as the "Tax Cuts and Jobs Act" (the "Act"), which resulted in significant modifications to existing tax law. A number of the provisions directly impacts the Company. Included in the Act was a reduction of the corporate income tax rate from 35% to 21%. The Company has completed the analysis of remeasuring our gross deferred tax assets and liabilities utilizing the 21% corporate tax rate. The Company recorded the effect in our financial results for the period ended December 31, 2017. The effect of the change in the corporate tax rate on our gross deferred tax assets and liabilities resulted in a $4.7 million increase in tax expense for the period ended December 31, 2017. ASC Topic 740 requires that the tax effect of changes in tax law and rates be recognized in income from continuing operations in the period that includes the enactment date of the change even if the deferred tax balances related to a prior year.