XML 47 R15.htm IDEA: XBRL DOCUMENT
v3.20.2

Income Taxes | 6 Months Ended
--- | ---
Jun. 30, 2020
Income Tax Disclosure [Abstract] |
Income Taxes | INCOME TAXES The Company recognized income tax expense of $6.1 million and $11.6 million for the three months ended June 30, 2020 and 2019, respectively. The decrease in tax expense in the current-year quarter was largely due to lower pre-tax income levels, and the recognition of a $1.1 million excess tax benefit from stock compensation activity. The Company’s effective tax rate for the three months ended June 30, 2020 was 22.2%, compared to 26.1% in the prior-year quarter. For the six months ended June 30, 2020 and 2019, the Company recognized income tax expense of $13.3 million and $17.5 million, respectively. The decrease in tax expense in the current year was largely due to lower pre-tax income levels, and the recognition of excess tax benefits from stock compensation activity of $1.8 million. The Company’s effective tax rate for the six months ended June 30, 2020 was 22.9%, compared to 25.8% in the prior-year period. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was enacted. The income tax provisions of the CARES Act had limited applicability to the Company and, therefore, did not have a material impact on the Company’s income tax expense for the three and six months ended June 30, 2020. However, as permitted under the CARES Act, the Company elected to defer approximately $3.3 million of federal income tax payments, that would have otherwise been paid during the second quarter of 2020, to the third quarter of 2020.

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

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. + 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
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration