Taxes on Income	3 Months Ended
Mar. 31, 2020
Taxes on Income
Taxes on Income	16. Taxes on Income The company’s effective tax rate was negative 9.1 percent and 7.1 percent for the three months ended March 31, 2020 and 2019, respectively. As compared to the statutory U.S. tax rate, the effective tax rate for the three months ended March 31, 2020, was reduced by 51 percentage points for the benefit of share-based compensation, reduced by 13.8 percentage points for the benefit of losses in equity in results of affiliates, reduced by 8.9 percentage points for foreign rate differences net of foreign withholding tax, increased by 35.3 percentage points for the impact of the beverage packaging, other goodwill impairment, and increased by 11.1 percentage points for the impact of revaluing certain deferred tax assets due to fluctuations in foreign currency exchange rates. Also, as compared to the statutory tax rate, the effective tax rate for the three months ended March 31, 2019, was reduced by 11.3 percentage points for the benefit of share-based compensation, reduced by 2.7 percentage points for the benefit of losses in equity in results of affiliates and increased by 1.1 percentage points for the impact of global intangible low-taxed income (GILTI) net of foreign derived intangible income (FDII).

Taxes on Income

3 Months Ended

Mar. 31, 2020

16. Taxes on Income

The company’s effective tax rate was negative 9.1 percent and 7.1 percent for the three months ended March 31, 2020 and 2019, respectively. As compared to the statutory U.S. tax rate, the effective tax rate for the three months ended March 31, 2020, was reduced by 51 percentage points for the benefit of share-based compensation, reduced by 13.8 percentage points for the benefit of losses in equity in results of affiliates, reduced by 8.9 percentage points for foreign rate differences net of foreign withholding tax, increased by 35.3 percentage points for the impact of the beverage packaging, other goodwill impairment, and increased by 11.1 percentage points for the impact of revaluing certain deferred tax assets due to fluctuations in foreign currency exchange rates. Also, as compared to the statutory tax rate, the effective tax rate for the three months ended March 31, 2019, was reduced by 11.3 percentage points for the benefit of share-based compensation, reduced by 2.7 percentage points for the benefit of losses in equity in results of affiliates and increased by 1.1 percentage points for the impact of global intangible low-taxed income (GILTI) net of foreign derived intangible income (FDII).