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Income Taxes
3 Months Ended
Mar. 31, 2019
Income Taxes [Abstract]  
Income Taxes

(13) Income Taxes

The Company recognized income tax expense of $1,835 and $3,233 for U.S. federal, state and foreign income taxes for the three months ended March 31, 2019 and 2018, respectively. The decrease in income tax expense for the three months ended March 31, 2019 compared to the same period for 2018 was primarily related to a reduction in taxable income. The effective tax rate decreased to 16.0% in the first quarter of 2019 from 19.5% in the first quarter of 2018 primarily due an increased favorable impact of tax deductible stock compensation versus the same period in 2018, as well as a state valuation allowance release in the first quarter of 2019, with no corresponding impact in the first quarter of 2018.

The Company has concluded that it is reasonably possible that its future provision for income taxes may be significantly impacted by changes to valuation allowance in certain countries within the following twelve months.