Income Taxes	6 Months Ended
Jun. 30, 2016
Income Taxes [Abstract]
Income Taxes	10. Income Taxes Income Tax Expense The Company’s effective income tax rate was approximately 39% and 51% for the three and six months ended June 30, 2016, respectively, as compared to 402% and 52% for the three and six months ended June 30, 2015, respectively. The Company’s income tax rate for the three and six months ended June 30, 2016 was unfavorably impacted by the tax treatment of certain expenses related to the On-X acquisition, which had a larger impact on the tax rate in the first quarter of 2016. The Company’s income tax rate for the six months ended June 30, 2016 was also unfavorably impacted by book/tax basis differences related to the HeRO Sale. The Company’s income tax rate for the three months ended June 30, 2015 was unfavorably affected by changes in the Company’s estimated full year effective tax rate, which had a large impact when compared to the Company’s small pretax book income for the quarter. The Company’s income tax rate for the three and six months ended June 30, 2015 was unfavorably impacted by the absence of the domestic production activities deduction, and by other permanent book/tax differences, which had a proportionally large impact in 2015 due to the Company’s anticipated full year pretax book income for 2015. The Company’s income tax rate for the six months ended June 30, 2015 did not include an anticipated benefit from the research and development tax credit, as this credit had not yet been enacted at that time. Deferred Income Taxes Deferred income taxes reflect the net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and tax return purposes. The Company generates deferred tax assets primarily as a result of book write-downs, reserves, or impairments which are not immediately deductible for tax return purposes. The Company acquired deferred tax assets, primarily net operating loss carryforwards, from its acquisitions of On-X, Hemosphere, and Cardiogenesis Corporation. The Company currently estimates that a portion of its state net operating loss carryforwards will not be recoverable and has, therefore, recorded a valuation allowance against these state net operating loss carryforwards. As of June 30, 2016 the Company maintained a total of $2.3 million in valuation allowances against deferred tax assets, related to state net operating loss carryforwards, and had a net deferred tax liability of $1.6 million. As of December 31, 2015 the Company had a total of $2.1 million in valuation allowances against deferred tax assets and a net deferred tax asset of $18.2 million.

10. Income Taxes

Income Tax Expense

The Company’s effective income tax rate was approximately 39% and 51% for the three and six months ended June 30, 2016, respectively, as compared to 402% and 52% for the three and six months ended June 30, 2015, respectively. The Company’s income tax rate for the three and six months ended June 30, 2016 was unfavorably impacted by the tax treatment of certain expenses related to the On-X acquisition, which had a larger impact on the tax rate in the first quarter of 2016. The Company’s income tax rate for the six months ended June 30, 2016 was also unfavorably impacted by book/tax basis differences related to the HeRO Sale.

The Company’s income tax rate for the three months ended June 30, 2015 was unfavorably affected by changes in the Company’s estimated full year effective tax rate, which had a large impact when compared to the Company’s small pretax book income for the quarter. The Company’s income tax rate for the three and six months ended June 30, 2015 was unfavorably impacted by the absence of the domestic production activities deduction, and by other permanent book/tax differences, which had a proportionally large impact in 2015 due to the Company’s anticipated full year pretax book income for 2015. The Company’s income tax rate for the six months ended June 30, 2015 did not include an anticipated benefit from the research and development tax credit, as this credit had not yet been enacted at that time.

Deferred Income Taxes

Deferred income taxes reflect the net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and tax return purposes. The Company generates deferred tax assets primarily as a result of book write-downs, reserves, or impairments which are not immediately deductible for tax return purposes. The Company acquired deferred tax assets, primarily net operating loss carryforwards, from its acquisitions of On-X, Hemosphere, and Cardiogenesis Corporation. The Company currently estimates that a portion of its state net operating loss carryforwards will not be recoverable and has, therefore, recorded a valuation allowance against these state net operating loss carryforwards.

As of June 30, 2016 the Company maintained a total of $2.3 million in valuation allowances against deferred tax assets, related to state net operating loss carryforwards, and had a net deferred tax liability of $1.6 million. As of December 31, 2015 the Company had a total of $2.1 million in valuation allowances against deferred tax assets and a net deferred tax asset of $18.2 million.