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Income Taxes
6 Months Ended
Jun. 30, 2021
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes:The effective income tax rate for the three-month and six-month periods ended June 30, 2021 was 20.0% and 19.6% compared to 17.5% and 16.6% for the three-month and six-month periods ended June 30, 2020, respectively. The six-month period ended June 30, 2021 includes discrete tax benefits related to the release of a foreign valuation allowance, excess tax benefits realized from stock-based compensation arrangements, and the revaluation of deferred taxes due to tax rate changes, offset by tax expense due to an out-of-period adjustment regarding an overstated deferred tax liability recorded during the three-month period ended December 31, 2017. The Company’s effective income tax rate fluctuates based on, among other factors, its level and location of income. The difference between the U.S. federal statutory income tax rate and our effective income tax rate for the three-month and six-month periods ended June 30, 2021 and June 30, 2020 was impacted by a variety of factors, primarily stemming from the location in which income was earned. In addition, 2021 includes a $97.8 million tax expense recorded for the gain on the sale of the FCS business, partially offset by a benefit from foreign rate differences primarily attributable to our share of the income of our Jordan Bromine Company Limited (“JBC”) joint venture, a Free Zones company under the laws of the Hashemite Kingdom of Jordan