|
Income Taxes
|
3 Months Ended |
|---|---|
|
Mar. 31, 2014
|
|
| Income Taxes |
8. Income Taxes Income tax expense of $6.6 million and $14.9 million was recorded during the three months ended March 31, 2014 and 2013, respectively. Our effective tax rate for the three months ended March 31, 2014 was 37.3% and differed from the federal statutory rate of 35.0% primarily as a result of state income taxes and other permanent items. The effective tax rate for the three months ended March 31, 2013 was 35.9% and differed from the federal statutory rate primarily as a result of state income taxes. During 2013, we received refunds of $59.1 million, of which $9.5 million of these refunds have been accounted for as unrecognized tax benefits. We recognize interest and penalties related to unrecognized tax benefits in income tax expense. During the three months ended March 31, 2014 and 2013, we had less than $0.1 million of accrued interest expense related to our unrecognized tax benefit. As of March 31, 2014 and December 31, 2013, we had a valuation allowance related to state net operating losses. The realization of these assets depends on recognition of sufficient future taxable income in specific tax jurisdictions in which those temporary differences or net operating losses are deductible. The tax years from 2010 through 2013 remain open to examination by the tax jurisdictions to which we are subject. |
| X | ||||||||||
|
- 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
|