Income Taxes	9 Months Ended
Sep. 30, 2017
Income Taxes
Income Taxes	7. Income Taxes Income tax expense for the three and nine months ended September 30, 2017 was $3.0 million and $13.4 million, respectively. Income tax expense for the three and nine months ended September 30, 2016 was $2.5 million and $8.0 million, respectively. The effective tax rates for the three and nine months ended September 30, 2017 were 35.9% and 40.7%, respectively. The effective tax rates for the three and nine months ended September 30, 2016 were 38.7% and 41.3%, respectively. The Company records tax expense or benefit for unusual or infrequent items discretely in the period in which they occur. Our tax rate is subject to change based on changes in the mix of assets leased to domestic and foreign lessees, the proportions of revenue generated within and outside of California, the amount of executive compensation exceeding $1.0 million as defined in IRS code 162(m) and numerous other factors, including changes in tax law.

Income Taxes

9 Months Ended

Sep. 30, 2017

7. Income Taxes

Income tax expense for the three and nine months ended September 30, 2017 was $3.0 million and $13.4 million, respectively. Income tax expense for the three and nine months ended September 30, 2016 was $2.5 million and $8.0 million, respectively. The effective tax rates for the three and nine months ended September 30, 2017 were 35.9% and 40.7%, respectively. The effective tax rates for the three and nine months ended September 30, 2016 were 38.7% and 41.3%, respectively.

The Company records tax expense or benefit for unusual or infrequent items discretely in the period in which they occur. Our tax rate is subject to change based on changes in the mix of assets leased to domestic and foreign lessees, the proportions of revenue generated within and outside of California, the amount of executive compensation exceeding $1.0 million as defined in IRS code 162(m) and numerous other factors, including changes in tax law.