XML 63 R17.htm IDEA: XBRL DOCUMENT v3.19.3
Income Taxes
9 Months Ended
Sep. 30, 2019
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes

Income tax benefit for the three months ended September 30, 2019 was $60 million on a loss before taxes of $969 million for a consolidated effective tax rate of 6.2%. Income tax benefit for the nine months ended September 30, 2019 was $60 million on a loss before taxes of $992 million for a consolidated effective tax rate of 6.0%.

Income tax expense for the three months ended September 30, 2018 was $19 million on income before taxes of $35 million for a consolidated effective tax rate of 54.3%. Income tax expense for the nine months ended September 30, 2018 was $33 million on income before taxes of $107 million for a consolidated effective tax rate of 30.8%.

The difference between our effective tax rate and the federal statutory tax rate for the nine months ended September 30, 2019 and 2018 primarily relates to the goodwill impairment recorded discretely in the three months ended September 30, 2019, as well as non-deductible stock compensation expense, the federal tax impact of international operations included as Global Intangible Low-Taxed Income (“GILTI”), and limitations on the ability to utilize associated foreign tax credits.