INCOME TAXES	6 Months Ended
Jun. 30, 2013
INCOME TAXES
INCOME TAXES	NOTE 8—INCOME TAXES For the three months ended June 30, 2013 and 2012, we recorded tax benefits of $(19) thousand and $(1.1) million, respectively, which represent effective tax rates of 0.9% and 39.4%, respectively. For the six months ended June 30, 2013 and 2012, we recorded a tax provision (benefit) of $1 thousand and $(3.3) million, respectively, which represent effective tax rates of 0.04% and 39.5%, respectively. The Company established a valuation allowance of approximately $55 million during the year ended December 31, 2012 to offset its US net deferred tax assets, after excluding deferred tax liabilities related to indefinite-lived intangible assets that are not anticipated to provide a source of taxable income in the foreseeable future. For the three and six months ended June 30, 2013, the effective income tax rates were impacted by the indefinite-lived intangible assets which are amortized for tax purposes but not amortized for book purposes, as well as a discrete state tax liability occurring during the periods. For the three and six months ended June 30, 2012, our effective tax rates were higher than the federal statutory rate of 35%, primarily due to the impact of state income taxes.

INCOME TAXES

6 Months Ended

Jun. 30, 2013

NOTE 8—INCOME TAXES

For the three months ended June 30, 2013 and 2012, we recorded tax benefits of $(19) thousand and $(1.1) million, respectively, which represent effective tax rates of 0.9% and 39.4%, respectively. For the six months ended June 30, 2013 and 2012, we recorded a tax provision (benefit) of $1 thousand and $(3.3) million, respectively, which represent effective tax rates of 0.04% and 39.5%, respectively. The Company established a valuation allowance of approximately $55 million during the year ended December 31, 2012 to offset its US net deferred tax assets, after excluding deferred tax liabilities related to indefinite-lived intangible assets that are not anticipated to provide a source of taxable income in the foreseeable future. For the three and six months ended June 30, 2013, the effective income tax rates were impacted by the indefinite-lived intangible assets which are amortized for tax purposes but not amortized for book purposes, as well as a discrete state tax liability occurring during the periods. For the three and six months ended June 30, 2012, our effective tax rates were higher than the federal statutory rate of 35%, primarily due to the impact of state income taxes.