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Income Taxes
 3 Months Ended
Mar. 31, 2012
Income Taxes [Abstract]  
Income Taxes
5. Income Taxes

In calculating the provision for income taxes, the Company uses an estimate of the annual effective tax rate based upon the facts and circumstances at each interim period. On a quarterly basis, the estimated annual effective tax rate is adjusted, as appropriate, based upon changes in facts and circumstances, if any, as compared to those forecasted at the beginning of the fiscal year and each interim period thereafter.

The provision for income taxes for the three months ended March 31, 2012 includes U.S. federal, state and local taxes at an estimated annual effective tax rate of 40.0% compared to an estimated annual effective tax rate of 6.2% for the three months ended March 31, 2011. The primary difference in the annual effective tax rate for the three months ended March 31, 2012 and 2011 was due to the changes in the recognition of deferred taxes following the Company's release of a valuation allowance during the fourth quarter of fiscal year 2011 on all net deferred tax assets other than those related to capital losses and certain state net operating loss carryforwards. During the three months ended March 31, 2011, the Company offset all changes in its deferred tax assets with a valuation allowance resulting in an effective tax rate substantially different from the applicable statutory tax rates. Following the valuation allowance release during the fourth quarter of fiscal year 2011, the Company records its taxes on substantially all of its operating income at the applicable statutory rates, as adjusted for permanent differences, without an offsetting valuation allowance.