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Income Taxes | 9 Months Ended
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Sep. 30, 2019
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes The provision (benefit) for income taxes consists of the following:
| Three months ended |  |  |  | Nine months ended |  |
| September 30, 2019 |  | September 30, 2018 |  | September 30, 2019 |  | September 30, 2018
| (in thousands) |  |  |  |  |  |
Current | $ | 464 |  |  | $ | 5,101 |  |  | $ | 3,716 |  |  | $ | 8,534 |
Deferred | 96 |  |  | 426 |  |  | 4,208 |  |  | 864 |
| $ | 560 |  |  | $ | 5,527 |  |  | $ | 7,924 |  |  | $ | 9,398 |
The provision for income taxes differs from the amount computed by applying the statutory federal income tax rate before the provision for income taxes. The reconciliation of the Federal statutory income tax rate to the effective income tax rate is as follows:
| Three months ended |  |  |  | Nine months ended |  |
| September 30, 2019 |  | September 30, 2018 |  | September 30, 2019 |  | September 30, 2018
Federal statutory rate | 21.0 | % |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State income taxes, net of Federal benefit | 1.3 |  |  | 5.0 |  |  | 4.2 |  |  | 5.9 |
Amended Oklahoma tax returns | (4.5) |  |  | — |  |  | (2.0) |  |  | — |
Excess tax benefits | (1.7) |  |  | (2.1) |  |  | (3.1) |  |  | (3.1) |
Return to provision adjustments | (7.1) |  |  | 4.2 |  |  | (2.1) |  |  | 0.5 |
Other | (5.1) |  |  | 0.1 |  |  | (0.6) |  |  | (0.5) |
Effective tax rate | 3.9 | % |  | 28.2 | % |  | 17.4 | % |  | 23.8 | %
Upon completion of the Company's 2018 tax return, the Company recorded an additional benefit due to higher than expected research and development credit of $0.6 million. Historically, the Company has taken advantage of the Oklahoma Investment/New Jobs Credit ("OK Credit"). This OK Credit allows the Company to take a credit equal to 1% of eligible investments each year for five years, beginning with the year of investment. The Company determined it could take advantage of an additional 1% tax credit for years in which the Company's location was deemed to be within an enterprise zone. The additional OK Credit for being in an enterprise zone, or otherwise allowable under Oklahoma law resulted in a benefit of $0.3 million for 2018 and $0.9 million for our 2015, 2016 and 2017 amended returns, combined. The Company's estimated annual 2019 effective tax rate, excluding discrete events, is approximately 24%. Our estimated effective tax rate for 2019 decreased due to the additional credit we expect to realize in Oklahoma. We file income tax returns in the U.S., state and foreign income tax returns jurisdictions. We are subject to U.S. income tax examinations for tax years 2014 to present, and to non-U.S. income tax examinations for the tax years 2014 to present. In addition, we are subject to state and local income tax examinations for the tax years 2014 to present. The Company continues to evaluate its need to file returns in various state jurisdictions. Any interest or penalties would be recognized as a component of income tax expense.

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- 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
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