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Income Tax Expense
3 Months Ended
Mar. 31, 2019
Income Tax Disclosure [Abstract]  
Income Tax Expense

NOTE 12. INCOME TAX EXPENSE

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2019

 

 

2018

 

Earnings from continuing operations before income taxes

 

$

49.8

 

 

$

49.4

 

Income tax expense

 

 

13.4

 

 

 

8.2

 

Effective tax rate

 

 

26.8

%

 

 

16.6

%

 

The effective tax rate for the first quarter was higher compared to the same period in 2018 primarily due to the favorable impact of share-based compensation deductions in the first quarter of 2018 that did not recur as extensively in the first quarter of 2019.

 

It is reasonably possible that the amount of unrecognized tax benefits could significantly increase or decrease within the next twelve months. However, an estimate of the range of reasonably possible outcomes cannot be made.  Changes to unrecognized tax benefits could result from the completion of ongoing examinations, the expiration of the statute of limitations or other unforeseen circumstances.