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Deferred Tax Adjustment - Second Quarter 2012 Restatement
6 Months Ended
Jun. 30, 2013
Text Block [Abstract]  
Deferred Tax Adjustment - Second Quarter 2012 Restatement

Note 4—Deferred Tax Adjustment – Second Quarter 2012 Restatement

During the quarter ended December 31, 2012, the Company discovered that the deferred tax liability reported in its quarters ended March 31, June 30, and September 30, 2012 consolidated financial statements was recorded incorrectly. In the first quarter ended March 31, 2012, the Company commenced amortizing the deferred tax liability over a twelve-year period to match the amortization of the related intangible. However, the full amount of the deferred tax liability should have been recorded as a deferred tax benefit in the first quarter of 2012 Consolidated Statement of Operations. This error was identified and recorded as an out-of-period adjustment in the quarter ended December 31, 2012. If the transaction was recorded in the first quarter of 2012, the deferred tax benefit would have been $0.0 million and $2.5 million for the three and six months ended June 30, 2012 and the deferred tax liability would have been $0.0 as of June 30, 2012. The Consolidated Statements of Cash Flows would have reflected a net loss of $13.1 million and a deferred tax benefit of $2.5 million for the six months ended June 30, 2012. The Company has restated the three and six months of 2012 in this Form 10-Q to reflect this adjustment.