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Income Taxes (Tables)
9 Months Ended
Sep. 30, 2013
Income Taxes  
Schedule of the provision for income taxes from continuing operations

 

 

 

 

Three months ended September 30,

 

Nine months ended September 30,

 

 

 

2013

 

2012

 

2013

 

2012

 

Current

 

$

46,389

 

$

38,336

 

$

72,291

 

$

72,324

 

Deferred

 

(13,102

)

10,461

 

(5,132

)

35,349

 

Total income tax provision

 

$

33,287

 

$

48,797

 

$

67,159

 

$

107,673

 

Schedule of reconciliation between the statutory federal income tax rate and the Company's effective federal income tax rate from continuing operations

 

 

 

 

Nine months ended September 30,

 

 

 

2013

 

2012

 

Statutory federal income tax rate

 

35.0

%

35.0

%

Income tax effect of:

 

 

 

 

 

Investment income not subject to federal tax

 

(2.7

)%

(2.2

)%

Tax credits

 

(1.4

)%

(1.3

)%

State income taxes, net of federal benefit

 

2.0

%

1.2

%

Prior year income tax adjustment

 

(0.8

)%

3.8

%

Other, net

 

1.2

%

0.1

%

Effective income tax rate

 

33.3

%

36.6

%