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Income Taxes | 6 Months Ended
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Jun. 30, 2017
Income Taxes |
Income Taxes | 9. Income Taxes Income tax expense decreased by $3.7 million, to $18.2 million for the three months ended June 30, 2017 compared to $21.9 million for the three months ended June 30, 2016. The Company’s effective tax rate (“ETR”) was 34.9% for the three months ended June 30, 2017, compared to 44.4% for the three months ended June 30, 2016. The decrease in ETR was primarily driven by a reduction in non-cash fair value losses on common stock warrants, which are not tax effected, a decrease in non-deductible transaction costs and changes to the geographic mix of earnings. Income tax expense increased by $2.0 million, to $40.7 million for the six months ended June 30, 2017 compared to $38.7 million for the six months ended June 30, 2016. The Company’s ETR was 35.6% for the six months ended June 30, 2017, compared to 42.4% for the six months ended June 30, 2016. The decrease in ETR was primarily driven by a reduction in non-cash fair value losses on common stock warrants, which are not tax effected, a decrease in non-deductible transaction costs, offset by incremental tax expense associated with the settlement of vested restricted stock units and changes to the geographic mix of earnings.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32559-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32718-109319 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319 + Details
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