Taxes on Income	6 Months Ended
Jun. 30, 2020
Taxes on Income
Taxes on Income	16. Taxes on Income The company’s effective tax rate was 20.7 percent and 12.3 percent for the three and six months ended June 30, 2020, respectively. As compared to the statutory U.S. tax rate, the effective tax rate for the three and six months ended June 30, 2020, was reduced by 3.7 and 17.2 percentage points, respectively, for the benefit of share-based compensation, reduced by 11.2 and 9.4 percentage points, respectively, for federal tax credits, increased by 0.2 percentage points and reduced by 3.8 percentage points, respectively, for the equity in results of affiliates, increased by 10 percentage points, for the sixth months ended June 30, 2020, for the impact of the beverage packaging, other, goodwill impairment, increased by 8.4 and 9.2 percentage points, respectively, for the impact of revaluing certain deferred tax assets due to fluctuations in foreign currency exchange rates and increased by 4.2 and 0.5 percentage points, respectively, for foreign rate differences net of foreign withholding tax.

Taxes on Income

6 Months Ended

Jun. 30, 2020

16. Taxes on Income

The company’s effective tax rate was 20.7 percent and 12.3 percent for the three and six months ended June 30, 2020, respectively. As compared to the statutory U.S. tax rate, the effective tax rate for the three and six months ended June 30, 2020, was reduced by 3.7 and 17.2 percentage points, respectively, for the benefit of share-based compensation, reduced by 11.2 and 9.4 percentage points, respectively, for federal tax credits, increased by 0.2 percentage points and reduced by 3.8 percentage points, respectively, for the equity in results of affiliates, increased by 10 percentage points, for the sixth months ended June 30, 2020, for the impact of the beverage packaging, other, goodwill impairment, increased by 8.4 and 9.2 percentage points, respectively, for the impact of revaluing certain deferred tax assets due to fluctuations in foreign currency exchange rates and increased by 4.2 and 0.5 percentage points, respectively, for foreign rate differences net of foreign withholding tax.