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The fiscal year 2020 and 2019 amounts above exclude $142.1 million and $68.4 million, respectively, of unrecognized tax benefits that have been recorded as a reduction of non-current deferred tax assets, which is presented within non-current deferred tax liabilities due to jurisdictional netting on the consolidated balance sheets. 

A reconciliation of the beginning and ending amounts of unrecognized tax benefits, excluding interest and penalties, is as follows: 

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Our remaining unrecognized tax benefits as of December 31, 2020, relate to tax years that are currently open to examination. Annual tax provisions include amounts considered sufficient to pay assessments that may result from examination of prior year tax returns; however, the amount ultimately paid upon resolution of issues may differ materially from the amount accrued. 

Due to anticipated settlements and expected expiration of statutes of limitation, it is reasonably possible that the amount of unrecognized tax benefits may decrease by an amount up to $150 million within the next 12 months. 

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(1) Amounts exclude the potential effects of valuation allowances, which may fully or partially offset the impact to the effective tax rate. 

