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Taxes on Income
6 Months Ended
Jun. 30, 2016
Income Tax Disclosure [Abstract]  
Taxes on Income
TAXES ON INCOME
The Company’s effective tax rate in the quarter and six-month period ended June 30, 2016 was 22.8% and a benefit of 83.4% on a pre-tax loss, respectively. These effective rates were favorably impacted by a higher mix of earnings towards foreign jurisdictions, which generally have lower statutory tax rates, and the impact of certain discrete tax items relating to the 2016 Restructuring. The effective tax rate for the first six months of 2016 was also favorably impacted by a $1.9 million benefit related to the reversal of a previously recorded valuation allowance due to changes in the realization of future tax benefits.
For the quarter and six-month period ended June 30, 2015, the Company’s effective tax rate was 28.6% and 34.6%, respectively. The high effective tax rate on pre-tax income was unfavorably impacted by a relatively small income tax benefit recorded on pre-tax charges related to the 2014 Restructuring and the impact of discrete tax items that were related to non-deductible restructuring charges. In addition, the rate was negatively influenced by recording no tax benefit on losses in jurisdictions where valuation allowances were recorded against deferred tax assets.