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Income Taxes
 3 Months Ended
Mar. 31, 2013
Income Taxes  
Income Taxes

5.     Income Taxes

 

Our income tax provision for the periods presented and the respective effective income tax rates for such periods are as follows (in thousands, except for income tax rates):

 

 

 

For the Three Months ended

 

 

 

March 31,

 

 

 

2013

 

2012

 

Income tax provision

 

$

12,291

 

$

6,615

 

 

 

 

 

 

 

Effective income tax rate

 

19.4

%

12.0

%

 

Our provision for income taxes for each of the three-month periods ended March 31, 2013 and 2012 were calculated based on the estimated annual effective income tax rate for the full 2013 and 2012 fiscal years.  The provision for income taxes for the three-month period ended March 31, 2012 includes an adjustment for an income tax benefit of $3.3 million for a discrete item related to a change in estimate in an uncertain income tax position.  The actual effective income tax rate for the full 2013 fiscal year may be materially different as a result of differences between estimated versus actual results and the geographic tax jurisdictions in which the results are earned.

 

In March 2013, we received final approval that we were awarded an additional five year special income tax concession in Singapore beginning January 1, 2013.  The special income tax concession is conditional upon our meeting certain employment and investment thresholds which, if not met in accordance with our agreement, may eliminate the benefit beginning with the first year in which the conditions are not satisfied.