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Income Taxes
9 Months Ended
Sep. 30, 2018
Income Tax Disclosure [Abstract]  
Income Taxes
(9)

Income Taxes

The Company’s effective tax rate was approximately 29% and 37% for the three months ended September 30, 2017 and 2018, respectively, and approximately 26% and 47% for the nine months ended September 30, 2017 and 2018, respectively. These rates differ from the federal statutory rate of 35% and 21% in 2017 and 2018, respectively, due to the effect of state income taxes and certain expenses that are not deductible for tax purposes. The effective tax rate for the nine months ended September 30, 2018 also reflects a $1.2 million increase due to the change in fair value of contingent consideration during that time period. The effective tax rate for the three and nine months ended September 30, 2017 also reflects a $1.0 million decrease and a $3.0 million decrease due to the change in fair value of contingent consideration during the three and nine months ended September 30, 2017, respectively.