XML 30 R17.htm IDEA: XBRL DOCUMENT v3.8.0.1
Taxes on Income
3 Months Ended
Mar. 31, 2018
Income Tax Disclosure [Abstract]  
Taxes on Income
TAXES ON INCOME
The Company’s effective tax rate in the quarter ended March 31, 2018 was a benefit of 40.4% on a pre-tax loss. The benefit was positively impacted by a $1.5 million net tax benefit, or 60.0% benefit to the effective tax rate, related to employee share-based payments vested during the first quarter of 2018. Excluding this benefit, the Company recorded income tax expense on a pre-tax loss primarily due to valuation allowances recorded on certain net operating losses in foreign jurisdictions for which no income tax benefit can be recognized.
For the quarter ended March 31, 2017, the Company’s effective tax rate was 20.5%. The effective rate was 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.