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Income Taxes
6 Months Ended
Jun. 30, 2014
Income Taxes [Abstract]  
Income Taxes

(9)     Income Taxes

 

The income tax provision for the three months ended June 30, 2013 and 2014 was $2.4 million and $3.1 million, respectively, and the income tax provision for the six months ended June 30, 2013 and 2014 was $4.9 million and $7.3 million, respectively. The change is primarily due to the increase in income before income taxes for the three and six months ended June 30, 2014 when compared to the three and six months ended June 30, 2013. The Company provides for income taxes using an asset and liability approach, under which deferred income taxes are provided based upon enacted tax laws and rates applicable to periods in which the taxes become payable.

 

The Company is subject to income taxes in the U.S. federal and various state jurisdictions. Presently, there are no income tax examinations going on in the jurisdictions where the Company operates.

 

As of June 30, 2014, the Company remains in a net deferred tax asset position. The realization of the Company’s deferred tax assets depends primarily on its ability to generate sufficient U.S. taxable income in future periods. The amount of deferred tax assets considered realizable may increase or decrease in subsequent quarters as management reevaluates the underlying basis for the estimates of future domestic taxable income.