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Income Taxes
9 Months Ended
Dec. 31, 2017
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes
During the quarter ended December 31, 2017, the Company recognized $2.1 million of income tax expense, comprised of $2.8 million of income tax expense related to foreign operations and $0.7 million of federal income tax benefit. During the nine-month period ended December 31, 2017, the Company recognized $6.1 million of income tax expense, comprised of $6.5 million of income tax expense related to foreign operations, $0.5 million of federal income tax benefit and $0.1 million of state income tax expense.
During the quarter ended December 31, 2016, the Company recognized $1.8 million of income tax expense, comprised of $1.7 million of income tax expense related to foreign operations and $0.1 million of state income tax expense. During the nine-month period ended December 31, 2016, the Company recognized $4.4 million of income tax expense, comprised of $4.3 million of income tax expense related to foreign operations and $0.1 million of state income tax expense.
There were no U.S. federal income tax benefit from net operating losses for the quarters and nine-month periods ended December 31, 2017 and 2016 due to a valuation allowance recorded on deferred tax assets. 
Tax Cuts and Jobs Act
The Tax Cuts and Jobs Act (the “Act”) was enacted on December 22, 2017. The Act reduces the US federal corporate tax rate from 35% to 21%, requires companies to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred, and creates new taxes on certain foreign-sourced earnings. The SEC issued Staff Accounting Bulletin No. 118 “Income Tax Accounting Implications of the Tax Cuts and Jobs Act” (“SAB 118”) to provide guidance to companies that are not able to complete their accounting for income tax effect of the Act in the period of enactment. SAB 118 allows registrants to record tax reform impact amounts during a measurement period. The measurement period ends when a company has obtained, prepared and analyzed the information necessary to finalize its accounting, but cannot extend beyond one year. At December 31, 2017, the Company has not completed its accounting for the tax effects of enactment of the Act; however, the Company has initially determined a $0.8 million tax benefit impact related to the US federal corporate tax rate change to its existing deferred tax balances, which is included as a component of income tax expense from continuing operations for the quarter ended December 31, 2017. The Company has not been able to make a reasonable estimate for the one-time transition tax and will continue to account for this item based on its existing accounting under ASC 740, Income Taxes.