Note 8 - Income Taxes

The components of Liabilities for Income Taxes at March 31, 2015 and December 31, 2014 were:



(Dollars in Millions)	Mar 31, 2015		Dec 31, 2014
Current Income Tax Liabilities	$	—	$	7.8
Deferred Income Tax Liabilities	51.1		21.5
Unrecognized Tax Benefits	7.1		7.2
Liabilities for Income Taxes	$	58.2	$	36.5

Income taxes paid were $14.6 million and $6.4 million for the three months ended March 31, 2015 and 2014, respectively.

During the first quarter of 2015, the Company extended the federal statute of limitations for the 2007 through 2011 tax years until December 31, 2015. The extension was requested by the Internal Revenue Service (“IRS”) to provide the Joint Committee on Taxation (“JCT”) additional time to complete a review required by statute. In April 2015, the Company received a letter dated April 3, 2015, indicating that the JCT had completed its review and had taken no exception to the IRS’s conclusion to accept the tax returns as filed, effectively settling the extended years. Accordingly, the Company will reduce its Liability for Unrecognized Tax Benefits by $3.5 million and recognize an income tax benefit of $2.3 million in the second quarter of 2015.