Income Taxes |
9 Months Ended |
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Dec. 31, 2019 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes
Our effective income tax, after discrete tax events, was 26.4% and 29.9% for the three months ended December 31, 2019 and 2018, respectively, and 22.2% and 30.3% for the nine months ended December 31, 2019 and 2018, respectively. During the nine months ended December 31, 2019, the Company recorded the impact of a prospective income tax rate reduction in the province of Alberta, Canada. The scheduled rate reduction of 4% through fiscal 2023 resulted in a net reduction of deferred tax liabilities of $784 reported as a reduction to tax expense. Additionally, during the three months ended December 31, 2019, the Company recorded the impact of a prospective income tax rate reduction in the Netherlands. The scheduled rate reduction of 3% in fiscal 2021 resulted in a net reduction of deferred tax liabilities of $447 reported as a reduction to tax expense. Excluding the discrete items of the impact and the release of reserves for uncertain tax positions, the Company estimates that the effective tax rate will be 32.0% for the fiscal year ending March 31, 2020. The estimated effective income tax rate represents the weighted average of the estimated tax expense over our global income before tax.
As of December 31, 2019, we have established a long-term liability for uncertain tax positions in the amount of $716. During the nine months ended December 31, 2019, we released reserves for uncertain tax positions totaling $463. During the three and nine months ended December 31, 2019, the Company recognized accrued interest and penalties of $12 and $42 as income tax expense related to our current uncertain tax positions.
As of December 31, 2019, the tax years for the fiscal years ended March 31, 2014 through March 31, 2019 remain open to examination by the major taxing jurisdictions to which we are subject.
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