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Income Taxes
6 Months Ended
Jun. 30, 2014
Income Tax Disclosure [Abstract]  
Income Taxes
INCOME TAXES
The Company's effective income tax rate for the three months ended June 30, 2014 was 12.2%. The difference between the federal statutory rate of 35% and the Company's effective tax rate for the three months ended June 30, 2014 was primarily due to valuation allowance considerations and amortization of indefinite lived intangible assets. During the three months ended June 30, 2013, the Predecessor did not record a current provision for state or foreign tax purposes. The Predecessor had experienced cumulative losses from its foreign subsidiary and did not incur current foreign income taxes. The Predecessor was considered a pass-through entity for domestic federal income tax purposes, and therefore income or loss flowed through to the limited liability company members who were taxed in their individual capacities on their distributive shares of partnership taxable income.
The Company's effective income tax rate for the six months ended June 30, 2014 was 14.4%. The difference between the federal statutory rate of 35% and the Company's effective tax rate for the six months ended June 30, 2014 was primarily due to valuation allowance considerations and amortization of indefinite lived intangible assets. During the six months ended June 30, 2013, the Predecessor did not record a current provision for state or foreign tax purposes. The Predecessor had experienced cumulative losses from its foreign subsidiary and did not incur current foreign income taxes. The Predecessor was considered a pass-through entity for domestic federal income tax purposes, and therefore income or loss flowed through to the limited liability company members who were taxed in their individual capacities on their distributive shares of partnership taxable income.