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Income Taxes
6 Months Ended
Jun. 30, 2012
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes
The Company's effective income tax rate was 38.4% and 34.7% for the three months ended June 30, 2012 and 2011, respectively, and 36.2% and 30.8% for the six months ended June 30, 2012 and 2011, respectively.
The effective income tax rates for the three and six months ended June 30, 2012 reflect a lower state income tax rate and less permanent book-tax differences than in the prior year. The effective rate for the six months ended June 30, 2012 also reflects the favorable impact of adjustments for state tax credits that were recorded in the first three months of 2012. The tax benefit and the effective tax rate for both the three and six months ended June 30, 2011 were reduced by additional state deferred taxes that were recorded due to changes in state tax law and permanent book-tax differences.
In the ordinary course of business, the Company is subject to review by domestic and foreign taxing authorities, including the Internal Revenue Service (“IRS”). The IRS is currently auditing tax years 2008 through 2010. In general, the Company is no longer subject to examination by the IRS for tax years prior to 2008. In addition, the Company is generally no longer subject to state and local or foreign income tax examinations by taxing authorities for tax years prior to 2006. Various taxing authorities are in the process of auditing income tax returns of the Company and its subsidiaries. The Company does not anticipate that any adjustments from the audits would have a material impact on its consolidated financial position, results of operations or cash flows.