(Provision) Benefit for Income Taxes

6 Months Ended

Jun. 30, 2011

(Provision) Benefit for Income Taxes [Abstract]

(Provision) Benefit for Income Taxes

(6) (Provision) Benefit for Income Taxes

The effective tax rate for the three months ended June 30, 2011 was a benefit of 32.5% compared to a provision of 28.0% in the prior-year period. The effective tax rate for the six months ended June 30, 2011 was a benefit of 30.2% compared to a provision of 28.0% in the prior-year period. The Company’s (provision) benefit for income taxes was based on our estimated annual effective tax rate adjusted for the recognition of discrete items. The Company’s estimated annual effective tax rate principally includes the U.S. federal statutory rate, state income taxes and the impact of foreign income taxed at different rates. The Company operates in an international environment with significant operations in various locations outside the U.S. Accordingly, the consolidated income tax rate is a composite rate reflecting the Company’s income (loss) and the applicable tax rate in the various locations where the Company operates.