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Income Taxes
3 Months Ended
Jun. 30, 2020
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Accounting for Uncertainty in Income Taxes
As of June 30, 2020, the Company’s unrecognized tax benefits totaled $20,843, of which $10,316 would impact the Company’s effective tax rate, if recognized. The Company recognizes interest and penalties related to unrecognized tax benefits in income tax expense. As of June 30, 2020, accrued interest and penalties totaled $1,198 and $728, respectively. The Company expects to continue accruing interest expense related to the unrecognized tax benefits described above. The Company may be subject to fluctuations in the unrecognized tax benefit due to currency exchange rate movements.

The Company does not expect significant changes in the amount of its unrecognized tax benefits in the next twelve months but acknowledges circumstances can change due to unexpected developments in the law. In certain jurisdictions, tax authorities have challenged positions taken by the Company that resulted in recognizing benefits that are material to its financial statements. The Company believes it is more likely than not that it will prevail in these situations and accordingly has not recorded liabilities for these positions. The Company expects the challenged positions to be settled at a time greater than twelve months from its balance sheet date.

The Company and its subsidiaries file a U.S. federal consolidated income tax return as well as returns in several U.S. states and a number of foreign jurisdictions. As of June 30, 2020, the Company’s earliest open tax year for U.S. federal income tax purposes is its fiscal year ended March 31, 2017. The Company's tax attributes from prior periods remain subject to adjustment. Open tax years in state and foreign jurisdictions generally range from three to six years.

Provision for the Three Months Ended June 30, 2020
The effective tax rate for the three months ended June 30, 2020 and 2019 was 8.0% and (59.2)%, respectively. For the three months ended June 30, 2020 and 2019, the effective rate differed from the U.S. statutory rate of 21% due to the impact of non-deductible interest, net foreign exchange effects, and the expected jurisdictional mix of earnings. The primary differences in the effective tax rates year-over-year are the impact of net foreign exchange effects, increases in non-deductible interest, as well as foreign income taxed in the U.S., variations in the expected jurisdictional mix of earnings, and variations in included/excluded entities per adherence to ASC 240-270.

The Company's quarterly provision for income taxes has been calculated using the annual effective tax rate method (“AETR method”), which applies an estimated annual effective tax rate to pre-tax income or loss. The Company expects the recorded current benefit to be utilized by year-end through offsets to current tax. For the three months ended June 30, 2020, the Company recorded the net tax effects of excluded entities and certain discrete events, which resulted in income tax benefits of $360 and $276, respectively. The discrete income tax benefits are primarily related to the impact of changes in uncertain tax positions and changes in foreign exchange impacts. For the three months ended June 30, 2019, the Company recorded the tax effects of discrete events resulting in additional income tax benefit of $2,601. These discrete income tax benefits are primarily related to the impact of changes in uncertain tax positions, an adjustment made to the deemed repatriation tax liability as a result of retroactive regulatory guidance issued during the quarter, and changes in foreign exchange impacts.