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Income Taxes
9 Months Ended
Sep. 30, 2017
Income Taxes [Abstract]  
Income Taxes

11. Income Taxes



At the end of each interim period we are required to estimate our annual effective tax rate for the fiscal year, and to use that rate to provide for income taxes for the current year-to-date reporting period.  Our 2017 estimated annual effective tax rate of 36.3% is driven by our blended federal and state statutory rate of 37.8%, which is partially offset by net estimated benefits of 1.5% primarily from additional deductions for tax related to domestic production activities which benefited our rate by 3.2%.  This benefit was partially offset by non-deductible acquisition costs associated with our acquisition of UCP, Inc., along with other items which increased our rate by 1.7%.  Our estimated annual rate of 36.3% was also benefited by discrete items for excess tax benefits related to share based awards that vested during the nine months ended September 30, 2017, resulting in a total tax rate of 34.2%.



For the three months ended September 30, 2017 and 2016, we recorded income tax expense of $5.7 million and $6.4 million, respectively.  For the nine months ended September 30, 2017 and 2016, we recorded income tax expense of $17.2 million and $16.8 million, respectively.