INCOME TAXES (Note)

9 Months Ended

Sep. 30, 2018

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES

	Three Months Ended   September 30,						Nine Months Ended   September 30,
	2018			2017			2018			2017
	(in thousands, except percentages)
Income tax benefit (expense)	$	10,534		$	(4,292	)	$	63,716		$	(3,109	)
Effective tax rate	-59.1		%	29.8		%	-140.5		%	10.7		%

For the three and nine months ended September 30, 2018, the effective tax rate varied from the federal statutory rate of 21% primarily due to a tax benefit of $14.3 million and $75.2 million, respectively, 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 and nine months ended September 30, 2017, the effective tax rate varied from the federal statutory rate of 35% primarily due to a tax benefit of $0.8 million and $8.4 million, respectively, 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   September 30,						Nine Months Ended   September 30,
	2018			2017			2018			2017
	(in thousands)
Income tax expense - excluding excess tax benefit on stock compensation	$	(3,787	)	$	(5,103	)	$	(11,475	)	$	(11,523	)
Excess tax benefit on stock compensation	14,321			811			75,191			8,414
Income tax benefit (expense)	$	10,534		$	(4,292	)	$	63,716		$	(3,109	)