Income Taxes

3 Months Ended

Mar. 31, 2013

Income Taxes

Income Taxes

6. Income Taxes

Intraperiod tax allocation rules require us to allocate our provision for income taxes between continuing operations and other categories of earnings, such as other comprehensive income.  In periods in which we have a year-to-date pre-tax loss from continuing operations and pre-tax income in other categories of earnings, such as other comprehensive income, we must allocate the tax provision to the other categories of earnings. We then record a related tax benefit in continuing operations. During the first quarter of 2013, we recorded unrealized gains on our investments in available-for-sale securities in other comprehensive income net of taxes.  As a result, we recorded a $64,000 tax benefit on our condensed consolidated statements of operations and a $3.6 million tax expense in other comprehensive income for the three months ended March 31, 2013.