
	INCOME TAXES

The income tax provisions reflect tax rates of 38.7% in 2017 and 37.6% in 2016. The major components of the year-over-year change in tax rates were a decrease in tax credits partially offset by a decrease in losses from the market performance of insurance products used to fund certain non-qualified retirement plans which are excluded from taxable income. The Company recognized a benefit from the retroactive reenactment of the Work Opportunity Tax Credit for calendar year 2015 during the first quarter of 2016. This credit was extended continuously through December 31, 2019. Therefore, a similar retroactive reenactment was not applicable during the first quarter of 2017. The final annual tax rate cannot be determined until the end of the fiscal year; therefore, the actual 2017 rate could differ from our current estimates.