XML 62 R15.htm IDEA: XBRL DOCUMENT v2.4.1.9
Income Taxes
3 Months Ended
Mar. 31, 2015
Income Tax Disclosure [Abstract]  
Income Taxes

9. Income Taxes

During the three months ended March 31, 2015 and 2014, the Company recorded approximately $15.7 million and $9.6 million of income taxes, respectively.  Our effective tax rate for the quarter ending March 31, 2015 is 41.3% compared to a 41.4% effective tax rate for the same period in the prior year.  In arriving at these rates, the Company considers a variety of factors including the forecasted full year pre-tax results, the U.S. federal tax rate of 35%, expected non-deductible expenses, and estimated state income taxes.  The Company’s final effective tax rate for the full year is dependent on the level of pre-tax income and the magnitude of any non-deductible expenses in relation to that pre-tax income.

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, 2013, 2012 and 2011. 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.