Income Taxes

9 Months Ended

Sep. 30, 2019

Income Taxes

INCOME TAXES

NOTE 5.    INCOME TAXES

The following table sets out the tax expense and the effective tax rate for our income from continuing operations:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
Income from continuing operations, before income taxes	$	10,751		$	40,263		$	49,835		$	151,925
Provision for income taxes		3,495			5,106			3,819			23,998
Effective tax rate		32.5	%		12.7	%		7.7	%		15.8	%

Our effective tax rates differ from the U.S. federal statutory rate of 21% for the three and nine months ended September 30, 2019 and 2018, respectively, primarily due to the benefit of earnings in foreign jurisdictions which are subject to lower tax rates, partially offset by additional GILTI tax in the U.S. The effective tax rate for the first nine months of 2019 was lower than the same period in 2018 primarily due to the release of liabilities for uncertain tax positions in the first quarter of 2019 based on the completion of additional procedures during the quarter to support a change in facts with respect to a specific prior period position. The higher effective tax rate in the three months ended September 2019 was primarily due to the non-deductibility of certain transaction costs related to the Artesyn transaction and a change in the indefinite reinvestment assertion of unremitted earnings in China and Korea.