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Income Taxes
6 Months Ended
Jun. 30, 2014
Income Tax Disclosure [Abstract]  
Income taxes
Income Taxes
The Company evaluates its deferred tax assets quarterly to determine if valuation allowances are required. In assessing the realizability of deferred tax assets, the Company considers both positive and negative evidence in determining whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Company recognized valuation allowances of $1.9 million against its deferred tax assets related to certain tax jurisdictions as of June 30, 2014 and December 31, 2013.
During the three and six months ended June 30, 2014 and 2013, the Company did not recognize material changes to its valuation allowances against deferred tax assets related to continuing operations. To the extent the Company generates sufficient taxable income in the future to utilize the tax benefits of the net deferred tax assets on which a valuation allowance is recorded, the effective tax rate may decrease as the valuation allowance is reversed. The Company is not permitted to carry back any of its existing tax net operating losses; therefore, to the extent the Company generates future tax net operating losses, the Company may be required to increase the valuation allowance on net deferred tax assets and income tax benefit would be adversely affected.
For the three and six months ended June 30, 2014, the Company’s effective income tax rate including discontinued operations and other discrete items was 35.1% and 39.9%, respectively, which varied from the federal statutory rate of 35% primarily due to the unfavorable impact of certain non-deductible secondary offering transaction-related costs and a reduction in the annual effective tax rate from a permanent domestic manufacturing deduction under Internal Revenue Code Section 199 (the "Manufacturing Deduction"). For the three and six months ended June 30, 2013, the Company’s effective income tax rate including discontinued operations and other discrete items was 34.5% and 26.0%, respectively, which varied from the federal statutory rate of 35% primarily due to the unfavorable impact of certain non-deductible initial public offering transaction-related costs and the reduction in the annual effective tax rate from the Manufacturing Deduction. 
The effective income tax rate on continuing operations for the three months ended June 30, 2014 was 34.9% compared to an effective income tax rate on continuing operations of 33.9% for the three months ended June 30, 2013. The effective income tax rate on continuing operations for the six months ended June 30, 2014 was 40.0% compared to an effective income tax rate on continuing operations of 28.2% for the six months ended June 30, 2013. The increase in the tax rates for the comparative three-month and six-month periods is primarily due to a change in the Manufacturing Deduction tax benefits and the non-deductibility of certain public offering transaction-related costs.
The Company has no material uncertain tax positions as of June 30, 2014 and December 31, 2013.