INCOME TAXES (Note)

3 Months Ended

Mar. 31, 2017

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES

	Three Months Ended   March 31,
	2017			2016
	(in thousands, except percentages)
Income tax benefit (expense)	$	1,079		$	(4,798	)
Effective tax rate	(16.1		)%	41.0		%

For the three months ended March 31, 2017, the effective tax rate varied from the federal statutory rate of 35% primarily due to a tax benefit of $3.8 million recognized for excess tax benefits due to employee exercises of stock options and vesting of restricted stock in accordance with ASU 2016-09. See Note 2 —Significant Accounting Policies —Recent Accounting Pronouncements for additional information.

For the three months ended March 31, 2016, the effective tax rate varied from the federal statutory rate of 35% primarily due to state taxes.

	Three Months Ended   March 31,
	2017			2016
	(in thousands, except percentages)
Income tax expense - excluding excess tax benefit on stock compensation	$	(2,683	)	$	(4,798	)
Excess tax benefit on stock compensation	3,762			—
Income tax benefit (expense)	$	1,079		$	(4,798	)