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Income Tax
 9 Months Ended
Sep. 30, 2019
Income Tax Disclosure [Abstract]  
Income Tax Disclosure [Text Block]
Income Tax

The provision for income tax expense differed from the amounts computed by applying the U.S. federal income tax statutory rate of 21.0% to pre-tax income as a result of the following for the three and nine months ended September 30, 2019 and 2018, respectively (dollars in thousands):
 
 
Three months ended September 30,
 
Nine months ended September 30,
 
 
2019
 
2018
 
2019
 
2018
Tax provision at U.S. statutory rate
 
$
72,889

 
$
67,759

 
$
172,984

 
$
148,654

Increase (decrease) in income taxes resulting from:
 
 
 
 
 
 
 
 
U.S. Tax Reform provisional adjustments
 
—

 
664

 
—

 
(2,685
)
U.S. Tax Reform valuation allowance adjustments
 
—

 
(58,949
)
 
—

 
(59,139
)
Foreign tax rate differing from U.S. tax rate
 
84

 
7,537

 
1,373

 
8,795

Differences in tax bases in foreign jurisdictions
 
(9,550
)
 
(2,371
)
 
(30,626
)
 
(9,264
)
Deferred tax valuation allowance
 
27,721

 
(5,334
)
 
50,607

 
5,357

Amounts related to tax audit contingencies
 
3,259

 
1,851

 
6,223

 
650

Corporate rate changes
 
116

 
(166
)
 
(1,621
)
 
30

Subpart F
 
(26
)
 
(99
)
 
440

 
211

Foreign tax credits
 
(651
)
 
(544
)
 
(759
)
 
(1,003
)
Global intangible low-taxed income, net of credit
 
—

 
7,624

 
—

 
11,916

Equity compensation excess benefit
 
(1,034
)
 
(817
)
 
(6,189
)
 
(5,067
)
Return to provision adjustments
 
(8,362
)
 
4,213

 
(4,400
)
 
4,108

Other, net
 
(121
)
 
94

 
729

 
(492
)
Total provision for income taxes
 
$
84,325

 
$
21,462

 
$
188,761

 
$
102,071

Effective tax rate
 
24.3
%
 
6.7
%
 
22.9
%
 
14.4
%

The effective tax rates for the third quarter and first nine months of 2019 were higher than the U.S. Statutory rate of 21.0% primarily as a result of valuation allowances established on deferred tax assets in foreign jurisdictions and the accrual of uncertain tax positions, which was partially offset by differences in tax bases of foreign jurisdictions, return to provision adjustments, and tax benefits related to equity compensation.
The effective tax rates for the third quarter and first nine months of 2018 were lower than the U.S. Statutory rate of 21.0% primarily as a result of the release of a valuation allowance on foreign tax credits, which was partially offset by income earned in jurisdictions with statutory rate higher than the U.S. tax rate and a tax expense related to global intangible low-taxed income. During the third quarter of 2018 the Company released an uncertain tax position due to the expiration of the statute of limitations and established a new position. The foreign tax credits were used to offset the new uncertain tax liability, resulting in a valuation allowance no longer being necessary. $58.9 million of the release of the valuation allowance was previously established as part of U.S. Tax Reform.