Income Tax Benefit/Expense |
3 Months Ended |
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Mar. 31, 2017 | |
| Income Tax Disclosure [Abstract] | |
| Income Tax Benefit/Expense |
Income Tax Expense (Benefit)
During the first quarter of 2017, we had income tax expense of $2.3 million compared with income tax expense of $63.5 million during the first quarter of 2016. Despite the pre-tax loss for the first quarter of 2017, we recognized income tax expense due to the jurisdictional mix of income and loss during the quarter, along with our continued inability to recognize the benefits associated with certain losses as a result of valuation allowances. During the 2016 first quarter, we recognized income tax expense as a result of recording a valuation allowance of $73.1 million against our U.S. domestic deferred tax assets, which primarily consist of U.S. federal net operating losses.
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- References No definition available.
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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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