Income Taxes	3 Months Ended
Mar. 31, 2015
Income Taxes
Income Taxes	10. Income Taxes At March 31, 2015 and December 31, 2014, the Company had a net deferred tax liability balance of $56.4 million and $38.3 million, respectively, within its condensed consolidated balance sheets. The Company accounts for income taxes in accordance with ASC 740 “Income Taxes”. Under ASC 740, deferred tax assets and liabilities are determined based on the differences between the financial statement carrying amount and the tax bases of existing assets and liabilities and are measured at the prevailing enacted tax rates that will be in effect when these differences are settled or realized. ASC 740 also requires that deferred tax assets be reduced by a valuation allowance if it is more-likely-than-not that some portion or all of the deferred tax assets will not be realized. In the fourth quarter of 2013, the Company concluded that as a result of the failed spin-off-leaseback accounting treatment which resulted in a significant increase to its deferred tax assets, a valuation allowance should be recorded on the Company’s deferred tax assets given the significant negative evidence associated with being in or expecting to be in a three year cumulative pre-tax loss position and the insufficient objectively verifiable positive evidence to support the realization of the Company’s deferred tax assets. As of March 31, 2015, we have a full valuation allowance on the Company’s deferred tax assets as a result of the negative objective evidence of being in a three year cumulative loss. This resulted in an increase to the Company’s income tax provision of $5.1 million and $0.2 million for the three months ended March 31, 2015 and 2014, respectively. The Company calculates the provision for income taxes during interim reporting periods by applying an estimate of the annual effective tax rate (“ETR”) to the full year projected pretax book income or loss excluding certain discrete items. The Company’s ETR (income taxes as a percentage of income from operations before income taxes) was 84.78% for the three months ended March 31, 2015, as compared to 77.52% for the three months ended March 31, 2014, primarily due to the year-over-year increase to our federal and state valuation allowance that had an unfavorable impact to our ETR.

Income Taxes

3 Months Ended

Mar. 31, 2015

10. Income Taxes

At March 31, 2015 and December 31, 2014, the Company had a net deferred tax liability balance of $56.4 million and $38.3 million, respectively, within its condensed consolidated balance sheets. The Company accounts for income taxes in accordance with ASC 740 “Income Taxes”. Under ASC 740, deferred tax assets and liabilities are determined based on the differences between the financial statement carrying amount and the tax bases of existing assets and liabilities and are measured at the prevailing enacted tax rates that will be in effect when these differences are settled or realized. ASC 740 also requires that deferred tax assets be reduced by a valuation allowance if it is more-likely-than-not that some portion or all of the deferred tax assets will not be realized. In the fourth quarter of 2013, the Company concluded that as a result of the failed spin-off-leaseback accounting treatment which resulted in a significant increase to its deferred tax assets, a valuation allowance should be recorded on the Company’s deferred tax assets given the significant negative evidence associated with being in or expecting to be in a three year cumulative pre-tax loss position and the insufficient objectively verifiable positive evidence to support the realization of the Company’s deferred tax assets. As of March 31, 2015, we have a full valuation allowance on the Company’s deferred tax assets as a result of the negative objective evidence of being in a three year cumulative loss. This resulted in an increase to the Company’s income tax provision of $5.1 million and $0.2 million for the three months ended March 31, 2015 and 2014, respectively.

The Company calculates the provision for income taxes during interim reporting periods by applying an estimate of the annual effective tax rate (“ETR”) to the full year projected pretax book income or loss excluding certain discrete items. The Company’s ETR (income taxes as a percentage of income from operations before income taxes) was 84.78% for the three months ended March 31, 2015, as compared to 77.52% for the three months ended March 31, 2014, primarily due to the year-over-year increase to our federal and state valuation allowance that had an unfavorable impact to our ETR.