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Income Taxes
 3 Months Ended
Mar. 31, 2012
Income Taxes [Abstract]  
Income Taxes
Income Taxes

The Company’s effective tax rate is based on expected income, statutory tax rates and tax planning opportunities available to it.  For interim financial reporting, the Company estimates its annual tax rate based on projected taxable income (or loss) for the full year and records a quarterly tax provision in accordance with the anticipated annual rate.  The effective rate for the three months ended March 31, 2012 and 2011 was 36% and 37.1%, in each period, respectively. This differed from the Company’s statutory rate of 35% primarily due to state income taxes, and the non-deductibility of certain permanent tax items, such as incentive stock compensation expense.
 
Current
 
Deferred
 
Total
Three months ended March 31, 2012
 
 
 
 
 
U.S. Federal
$
(3,440
)
 
$
163

 
$
(3,277
)
State and local
(21
)
 
(261
)
 
(282
)
 
$
(3,461
)
 
$
(98
)
 
$
(3,559
)
Three months ended March 31, 2011:
 

 
 

 
 

U.S. Federal
$
283

 
$
614

 
$
897

State and local
20

 
(8
)
 
12

 
$
303

 
$
606

 
$
909

 

The Company does not believe that its tax positions will significantly change due to any settlement and/or expiration of statutes of limitations prior to March 31, 2013.