6.	Income Taxes

In the preparation and review of its income tax provision for the three months ended March 31, 2016, the Company identified an error in the income tax provision for the twelve months ended December 31, 2015 in which the Company did not recognize additional tax expense related to the significant decline in the intrinsic value of restricted stock units that vested in December 2015 and thus overstated the deferred tax asset related to those units. The Company recorded an $887 thousand increase in Provision for income taxes in 2016 as an out of period adjustment. The Company believes this correction of an error was not material to the previously-issued full year 2015 consolidated financial statements.

The effective tax rate for the three months ended March 31, 2016 increased to 43.6% from 38.4% for the three months ended March 31, 2015, primarily as a result of the adjustment to the deferred tax asset.