Income Taxes

9 Months Ended

Sep. 30, 2011

Income Taxes [Abstract]

Income Taxes

NOTE K – INCOME TAXES

The effective income tax rates for TPCGI for the three month periods ended September 30, 2011 and 2010 were 40.6% and 35.0%, respectively, and for the nine month periods ended September 30, 2011 and 2010 were 35.1% and 35.8%, respectively. TPCGLLC's effective income tax rates were the same as TPCGI's for all periods presented, except for the nine months ended September 30, 2010, which was 35.5% compared to TPCGI's rate for the same period of 35.8%. The effective rates for the 2011 periods were based on the projected effective rate for the year ending December 31, 2011. The effective rates for the quarter ended September 30, 2010 were based on the projected effective rate for the six-month transition period ended December 31, 2010. The effective rates for the first nine months of 2010 were based partly on the actual effective rate for the fiscal year ended June 30, 2010 and partly on the projected effective rate for the six-month transition period ended December 31, 2010, as a result of the change in fiscal years that took effect on January 1, 2011. The projected effective rates for all periods were based on the federal statutory tax rate of 35%, adjusted for the impact of projected permanent differences, and state income taxes.

The effective tax rates for the quarter and nine months ended September 30, 2011 reflect an increase in projected tax depreciation for 2011, which resulted in a lower projected Domestic Production Deduction and thus a higher projected effective rate for 2011.