ANIXTER INTERNATIONAL INC - 10-Q filing on 2017-10-24

INCOME TAXES	9 Months Ended
Sep. 29, 2017
INCOME TAXES	INCOME TAXES The Company's effective tax rate from continuing operations for the third quarter of 2017 was 39.7% compared to 38.4% in the prior year period. The prior year period included a $2.1 million net tax benefit related to previous year tax positions. The Company's effective tax rate from continuing operations for the nine months ended September 29, 2017 was 38.3% compared to 39.3% in the prior year period. The year over year change was due primarily to the change in the country mix of earnings, partially offset by the $2.1 million tax benefit recorded in the prior year period. Anixter considers the undistributed earnings of its foreign subsidiaries, along with future earnings, to be indefinitely reinvested and, accordingly, no provision for U.S. federal and state incomes taxes or any withholding taxes has been recorded.

INCOME TAXES

9 Months Ended

Sep. 29, 2017

The Company's effective tax rate from continuing operations for the third quarter of 2017 was 39.7% compared to 38.4% in the prior year period. The prior year period included a $2.1 million net tax benefit related to previous year tax positions. The Company's effective tax rate from continuing operations for the nine months ended September 29, 2017 was 38.3% compared to 39.3% in the prior year period. The year over year change was due primarily to the change in the country mix of earnings, partially offset by the $2.1 million tax benefit recorded in the prior year period.

Anixter considers the undistributed earnings of its foreign subsidiaries, along with future earnings, to be indefinitely reinvested and, accordingly, no provision for U.S. federal and state incomes taxes or any withholding taxes has been recorded.