Income Tax Expense

6 Months Ended

Jun. 30, 2020

Income Tax Disclosure [Abstract]

Income Tax Expense

NOTE 14. INCOME TAX EXPENSE

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2020			2019			2020			2019
Earnings (loss) from continuing operations before income taxes	$	60.9		$	83.1		$	(239.2	)	$	132.9
Income tax expense (benefit)		11.4			19.4			(66.1	)		32.8
Effective tax rate		18.7	%		23.3	%		27.6	%		24.6	%

The effective tax rate in the second quarter of 2020 was lower as compared to the same period in 2019, largely driven by the favorable tax impact of the gain on sale of our idled mineral fiber plant in China in the second quarter of 2020. The effective tax rate for the first six months of 2020 was higher than the effective tax rate for the same period in 2019 primarily due to the tax effects of our first quarter of 2020 pension settlement, partially offset by the tax benefit from the second quarter of 2020 gain on sale of our idled mineral fiber plant in China.  See Note 16 for additional details related to our pension settlement.

In the first and second quarters of 2020, the U.S. Department of Treasury deferred the due date for the first two estimated federal income tax payments to July 15, 2020 as part of its response to COVID-19.  As a result, no U.S. federal income tax payments have been made for the six months ended June 30, 2020.

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 reliably made at this time.  Changes to unrecognized tax benefits could result from the completion of ongoing examinations, the expiration of statutes of limitations or other unforeseen circumstances.