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Income Taxes
 3 Months Ended
Mar. 31, 2013
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes
The Company’s corporate organizational structure requires the filing of two separate consolidated U.S. Federal income tax returns. Taxable income of one group cannot be offset by tax attributes, including net operating losses of the other group.
A reconciliation of the effective tax rate to the U.S. federal statutory tax rate is as follows:
 
 
Three months ended March 31,
 
 
2013
 
2012
Federal statutory tax rate
 
35.0

%
 
35.0

%
State income taxes, net of federal benefit
 
2.6

 
 
3.0

 
Change in valuation allowance
 
(0.1
)
 
 
(8.9
)
 
Warrant liability fair value adjustment
 
—

 
 
3.1

 
Domestic production activities deduction
 
(2.4
)
 
 
(2.1
)
 
Other
 
0.2

 
 
0.9

 
Effective income tax rate
 
35.3

%
 
31.0

%

Fluctuations in effective tax rates were historically impacted by non-cash changes in the fair value of the Company’s warrant liability, permanent tax differences with no associated income tax impact, and existing deferred tax asset valuation allowances.