XML 62 R15.htm IDEA: XBRL DOCUMENT

Income Taxes

6 Months Ended

Jun. 30, 2014

9.	Income Taxes

During the three months ended June 30, 2014 and 2013, the Company recorded approximately $13.3 million and $12.7 million, respectively, of income taxes, which resulted in effective tax rates of 43.7% and 42.6%, respectively. During the six months ended June 30, 2014 and 2013, the Company recorded approximately $22.9 million and $20.5 million, respectively, of income taxes, which resulted in effective tax rates of 42.7% and 41.4%, respectively. The Company’s effective tax rate differs from the statutory federal income tax rate due to state income taxes and certain nondeductible items.

Tax years that remain open for purposes of examination of the Company’s income tax liability due to taxing authorities, include the years ended December 31, 2012, 2011 and 2010. However, there is currently an IRS examination underway related to the loss carryback of realized losses from securities sold during 2012 applied to the 2009 tax year.

- 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+ Details