INCOME TAXES (Note)

3 Months Ended

Mar. 31, 2018

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES

	Three Months Ended   March 31,
	2018			2017
	(in thousands, except percentages)
Income tax benefit	$	23,461		$	1,079
Effective tax rate	189.3		%	16.1		%

For the three months ended March 31, 2018, the effective tax rate varied from the federal statutory rate of 21% primarily due to a tax benefit of $27.2 million recognized for excess tax benefits due to employee exercises of stock options and vesting of restricted stock in accordance with ASU 2016-09 and the effect of state taxes.

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.

	Three Months Ended   March 31,
	2018			2017
	(in thousands)
Income tax expense - excluding excess tax benefit on stock compensation	$	(3,742	)	$	(2,683	)
Excess tax benefit on stock compensation	27,203			3,762
Income tax benefit	$	23,461		$	1,079