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Income Taxes
3 Months Ended
Mar. 31, 2015
Income Taxes  
Income Taxes

 

6.Income Taxes

 

The income tax provision for interim periods is determined using an estimated annual effective tax rate adjusted for discrete items, if any, which are taken into account in the quarterly period in which they occur.  We review and update our estimated annual effective tax rate each quarter.  For the three months ended March 31, 2015, our estimated annual effective tax rate was a provision of 7.10%.  The income tax expense of $148 includes a discrete charge of $117 which was related to a deferred tax liability recorded for indefinite lived intangibles.  For the three months ended March 31, 2014, our estimated annual effective tax rate was zero.  We recorded $2,869 of a tax benefit for the three months ended March 31, 2014 related to the Mednet acquisition.

 

As of March 31, 2015, in accordance with ASC 740, we maintained a full valuation allowance against net deferred tax assets, with the exception of the deferred tax liability recorded for indefinite lived intangibles.  We will continue to maintain a full valuation allowance until such time we can reasonably estimate the probability of realizing a benefit from the deferred tax assets.