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Taxes on Income
6 Months Ended
Jun. 30, 2017
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, 2017 was 29.5% and 26.3%, respectively. These effective rates were favorably impacted, as compared to U.S. federal statutory rates, by earnings from foreign jurisdictions, which generally have lower statutory tax rates. The effective tax rate for the first six months of 2017 was also favorably impacted by the reversal of previously recorded valuation allowances due to changes in the realization of future tax benefits, primarily in the United States.
For the quarter and six-month period ended June 30, 2016, the Company’s effective tax rate 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, or 42.0% benefit to the effective tax rate, related to the reversal of a previously recorded valuation allowance due to changes in the realization of future tax benefits.