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Income Taxes
6 Months Ended
Jun. 30, 2017
Income Tax Disclosure [Abstract]  
Income Taxes
. Income Taxes
The effective income tax rate was 17.1% for three months ended June 30, 2017 and 17.5% for the six months ended June 30, 2017. The effective income tax rate was 38.7% for three and six months ended June 30, 2016. The benefit from income taxes varies from the amount computed by applying the federal corporate income tax rate of 35.0% to loss before benefit from income taxes primarily due to state income taxes (net of federal tax effect) and adjustments for permanent differences. In determining the benefit from income taxes, the Company applied an estimated annual effective tax rate to its ordinary operating results, and calculated the tax benefit or provision, if any, of other discrete items individually as they occurred. The estimated annual effective tax rate was based on expected ordinary operating results, statutory tax rates, and the Company's best estimate of non-deductible and non-taxable items of ordinary income and expense.
Non-deductible interest expense associated with the Company's preferred stock impacted the estimated annual effective tax rate for 2017, and therefore decreased the income tax benefit the Company received during the three and six months ended June 30, 2017. Significant discrete items recognized during the three and six months ended June 30, 2017 included loss from debt extinguishment from the senior debt payoff (tax benefit) and preferred stock issuance costs (no tax benefit).