XML 72 R15.htm IDEA: XBRL DOCUMENT

Income Taxes

6 Months Ended

Jun. 30, 2014

(6)

Income Taxes

Income taxes as a percentage of earnings before income taxes as reported in the consolidated financial statements were 34.8% for the three months ended June 30, 2014 compared to 30.9% for the three months ended June 30, 2013. Income taxes as a percentage of earnings before income taxes as reported in the consolidated financial statements were 34.7% for the six months ended June 30, 2014 compared to 30.9% for the six months ended June 30, 2013.

The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are deductible, management believes it is more likely than not the Company will realize the benefits of these temporary differences at June 30, 2014 and, therefore, did not establish a valuation reserve.

- 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