Table:
|  | 2019 | 2018 |
| --- | --- | --- |
| Income tax expense, as reported (GAAP) | $17.3 | $94.6 |
| Accumulated foreign earnings assertion | 10.5 | — |
| U.S. Tax Reform | (7.0) | (85.9) |
| Impact of other special tax items | 0.2 | (1.1) |
| Impact of valuation allowance release | — | 3.6 |
| Impact of one-time employee bonus | — | 0.3 |
| Income tax expense, as adjusted (non-GAAP) (1) | $21.0 | $11.5 |
Paragraphs:
Income taxes. Income tax expense and effective annual income tax rates for fiscal 2019 and 2018, as well as information as to the effects of the U.S. Tax Reform in fiscal 2018, were as follows (dollars in millions):
(1) We believe the non-GAAP presentation of income tax expense and the effective annual tax rate excluding special tax items, the one-time employee bonus and restructuring charges provides additional insight over the change from the comparative reporting periods by isolating the impact of these significant, special items. In addition, the Company believes that its income tax expense, as adjusted, and effective tax rate, as adjusted, enhance the ability of investors to analyze the Company’s operating performance and supplement, but do not replace, its income tax expense and effective tax rate calculated in accordance with U.S. GAAP.
Income tax expense for fiscal 2019 was $17.3 million compared to $94.6 million for fiscal 2018. The decrease is primarily due to the $85.9 million impact of Tax
Reform that was recorded in fiscal 2018, which was partially offset by an increase in tax expense due to the global intangible low-taxed income provisions
("GILTI") of Tax Reform in fiscal 2019. Income tax expense also decreased by $10.5 million in fiscal 2019 as the Company reasserted that certain historical
undistributed earnings of two foreign subsidiaries will be permanently reinvested based on the expected working capital requirements of these two foreign
subsidiaries.
The $94.6 million of income tax expense recorded during fiscal 2018 included $85.9 million related to the enactment of Tax Reform. Included in the fiscal 2018 income tax expense was a $3.6 million benefit for the valuation allowance released against the net deferred tax assets in the U.S. as the Company is subject to GILTI.
Question:
How many years did Income tax expense, as reported (GAAP) exceed $50 million?
Answer: Objects satisfying the requirements:
2018
As a result, the answer is 1