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Income Taxes
6 Months Ended
Jun. 30, 2012
Income Taxes

9. Income Taxes

The Company’s effective tax rate for the three and six months ended June 30, 2012 was 37.4%, and the Company’s effective tax rate for the three and six months ended June 30, 2011 was 37.8%, which were consistent with the statutory tax rate applicable to the U.S. and the blended state rate for the states in which the Company conducts business. As of June 30, 2012, the Company did not have any uncertain tax positions requiring adjustments to its tax liability.

The Company had deferred tax assets for its federal and state tax loss carryforwards at June 30, 2012 recorded in non-current deferred taxes. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. As of June 30, 2012, management determined that a valuation allowance was not required for the tax loss carryforwards as they are expected to be fully utilized before expiration.