XML 87 R17.htm IDEA: XBRL DOCUMENT v3.19.3
Income Taxes
9 Months Ended
Sep. 30, 2019
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
The Company recognized income tax expense of $7.9 million and $6.5 million for the three months ended September 30, 2019 and 2018, respectively. The increase in tax expense in the current-year quarter was largely due to higher pre-tax income levels, which was partially offset by the recognition of a $0.6 million benefit resulting from the completion of a tax audit and a $0.6 million excess tax benefit from stock compensation activity. The Company’s effective tax rate for the three months ended September 30, 2019 was 21.8%, compared to 23.0% in the prior-year quarter.
For the nine months ended September 30, 2019 and 2018, the Company recognized income tax expense of $25.4 million and $18.9 million, respectively. The increase in tax expense in the current year was largely due to higher pre-tax income levels. The Company’s effective tax rate for the nine months ended September 30, 2019 was 24.4%, compared to 23.5% in the prior-year period.