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Income Taxes
6 Months Ended
Jun. 30, 2015
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes
For each interim period, the Company estimates the effective tax rate expected to be applicable for the full year and applies that rate to income before income taxes for the period. Additionally, the Company records discrete income tax items in the period in which they are incurred.
The effective tax rate for the three months ended June 30, 2015 was 35.8% compared to 37.3% for the three months ended June 30, 2014. The effective tax rate for the six months ended June 30, 2015 was 35.4% compared to 34.9% for the six months ended June 30, 2014. The decrease in the effective tax rate for the three month period was primarily due to nondeductible transaction costs incurred in the second quarter 2014. The increase in the effective tax rate for the six month period was primarily due to a reduction in our deferred tax liabilities recognized in 2014 as a result of lower state apportionment driven by the sale of the Idaho dairy farm. Changes in the relative profitability of our operating segments, as well as changes to federal, state and foreign tax laws may cause the rate to change from historical rates.