Income Taxes

3 Months Ended

Jun. 30, 2013

Income Taxes

Income Taxes

8. Income Taxes

Income taxes included in the consolidated financial statements were as follows:

	Three Months Ended
	June 30,
	2013			2012
Income tax benefit	$	(300	)	$	(11,941	)
Effective income tax rate	-4		%	24		%

Income tax benefit was $0.3 million for the three months ended June 30, 2013 compared to a benefit of $11.9 million in the same period of the prior year. The income tax benefit in the current period is due mainly to the recognition of losses in certain taxable Canadian entities.

The effective tax rate for the three months ended June 30, 2013 and 2012 differs from the U.S. statutory federal rate of 35% primarily due to the income attributable to flow-through entities for tax purposes.