XML 54 R13.htm IDEA: XBRL DOCUMENT v3.3.0.814
Income Taxes
9 Months Ended
Sep. 30, 2015
Income Tax Disclosure [Abstract]  
Income Taxes
INCOME TAXES
The Company recognized income tax expense of $8.7 million and $8.5 million for the three months ended September 30, 2015 and 2014, respectively. The increase in tax expense in the current-year quarter is largely due to higher pre-tax income levels. The effective tax rate for the three months ended September 30, 2015 was 34.7%, compared to 35.9% in the prior-year quarter.
For the nine months ended September 30, 2015 and 2014, the Company recognized income tax expense of $27.3 million and $18.4 million, respectively. The effective tax rate was 35.5% and 31.6% for the nine months ended September 30, 2015 and 2014, respectively. The increase in tax expense and the effective tax rate in the nine months ended September 30, 2015 was primarily due to higher pre-tax income levels and the effects of a $1.5 million tax benefit recognized in the prior-year period
associated with a reduction in unrecognized tax benefits, primarily related to the completion of an Internal Revenue Service (“IRS”) audit.