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Income Taxes
9 Months Ended
Sep. 30, 2015
Income Tax Disclosure [Abstract]  
Income Taxes

Note 9. Income Taxes

For the three months ended September 30, 2015, the Company recorded income tax expense of $0.8 million, and for the nine months ended September 30, 2015, the Company recorded a benefit of $0.1, million both of which were deferred. The Company’s effective tax rate for the three and nine months ended September 30, 2015 was 32.1% and 32.8%, respectively, which is approximately 2% lower than the U.S. Federal statutory corporate income tax rate of 34% due to certain permanent differences.  The effective tax rate also includes approximately 0.9% of the estimated portion of the Company’s income that is subject to income tax in the states in which the Company operates. The Company did not record any tax provision for income tax in the three or nine months ended September 30, 2014 because OVR is a partnership and is not subject to taxation. As explained in Note 1 Basis of Presentation, all historical financial information prior to December 19, 2014 contained in this report is that of OVR and its subsidiaries.

The Company provides for deferred income taxes on the difference between the tax basis of an asset or liability and its carrying amount in the financial statements in accordance with FASB ASC Topic 740, Income Taxes. This difference will result in taxable income or deductions in future years when the reported amount of the asset or liability is recovered or settled, respectively. In recording deferred tax assets, the Company considers whether it is more likely than not that some portion or all of the deferred income tax asset will be realized. The ultimate realization of deferred income tax assets, if any, is dependent upon the generation of future taxable income during the periods in which those deferred income tax assets would be deductible.