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Income Taxes
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9 Months Ended |
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Sep. 30, 2014
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| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes For the three months ended September 30, 2014, income tax expense of $10.3 million was provided at 34.7%. For the three months ended September 30, 2013, income tax expense of $10.3 million was provided at 36.5%. The lower 2014 effective tax rate is due primarily to the benefit associated with income attributable to noncontrolling interests that does not increase tax expense. For the nine months ended September 30, 2014, income tax expense of $49.8 million was provided at 34.5%. For the nine months ended September 30, 2013, income tax expense of $36.9 million was provided at a rate of 37.7%. The higher 2013 effective tax rate was due primarily to a correction made with respect to the accounting for the other comprehensive income (“OCI”) portion of the Company’s retiree health care plan liability and the Medicare Part D subsidy. The 2014 effective tax rate also reflects a benefit associated with income attributable to noncontrolling interests that does not increase tax expense. |