XML 27 R15.htm IDEA: XBRL DOCUMENT v3.7.0.1
Income Taxes
3 Months Ended
Mar. 31, 2017
Income Tax Disclosure [Abstract]  
Income Tax Disclosure [Text Block]
Income Taxes
During the three months ended March 31, 2017, the Company recorded a tax provision of $9.5 million which reflects income tax expense related to the period’s income before income taxes. The effective tax rate for the three months ended March 31, 2017 was 35.9% which included tax expense related to the expected tax benefits for the domestic production activities deduction. During the three months ended March 31, 2016, the Company recorded a tax provision of $5.5 million which reflects income tax expense related to the period’s income before income taxes. The effective tax rate for the three months ended March 31, 2016 was 37.6%.
During 2016, the Company fully utilized its federal NOL carryforwards and federal credit carryforwards. The Company had $5.1 million of state NOL carryforwards, net of the federal benefit, at March 31, 2017. Our state NOLs may be carried forward from one to 16 years, depending on the tax jurisdiction, with $1.4 million expiring between 2022 and 2027 and $3.7 million expiring between 2028 and 2032, absent sufficient state taxable income.