Income Taxes (Tables)

9 Months Ended

Sep. 30, 2020

Income Tax Disclosure [Abstract]

Reconciliation between the U.S. federal statutory tax rate and effective tax rate

A reconciliation between the U.S. federal statutory tax rate and our effective tax rate is summarized as follows:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
Statutory rate	21.0	%	21.0	%	21.0	%	21.0	%
State taxes	0.9		0.9		0.6		0.7
Taxes on foreign earnings	(3.0)		(5.0)		(3.6)		(4.7)
Tax credits	(2.3)		(1.5)		(1.3)		(1.0)
Purchased intangible assets	2.9		0.4		0.8		0.4
Divestiture of Denmark manufacturing operations	—		—		—		1.5
Internal reorganization of certain intellectual property rights	—		(1.5)		—		(2.1)
TECFIDERA impairment	3.5		—		1.9		—
GILTI	2.2		1.6		1.3		1.6
Swiss tax reform	—		(3.1)		—		(1.0)
Other permanent items	(0.6)		(0.1)		—		0.2
Other	0.5		(0.8)		0.2		(0.3)
Effective tax rate	25.1	%	11.9	%	20.9	%	16.3	%