Income Taxes	3 Months Ended
Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes In calculating the provision for income taxes, the Company uses an estimate of the annual effective tax rate based upon the facts and circumstances at each interim period. On a quarterly basis, the estimated annual effective tax rate is adjusted, as appropriate, based upon changes in facts and circumstances, if any, as compared to those forecasted at the beginning of the fiscal year and at each interim period thereafter. The provision for income taxes reflected U.S. federal, state and local taxes at an estimated effective tax rate of 15.8% and 21.5% for the three months ended March 31, 2019 and 2018, respectively. The decrease in the estimated effective tax rate for the three months ended March 31, 2019 was primarily due to the decrease in the valuation allowance associated with various investments the Company holds.

Income Taxes

3 Months Ended

Mar. 31, 2019

In calculating the provision for income taxes, the Company uses an estimate of the annual effective tax rate based upon the facts and circumstances at each interim period. On a quarterly basis, the estimated annual effective tax rate is adjusted, as appropriate, based upon changes in facts and circumstances, if any, as compared to those forecasted at the beginning of the fiscal year and at each interim period thereafter.

The provision for income taxes reflected U.S. federal, state and local taxes at an estimated effective tax rate of 15.8% and 21.5% for the three months ended March 31, 2019 and 2018, respectively. The decrease in the estimated effective tax rate for the three months ended March 31, 2019 was primarily due to the decrease in the valuation allowance associated with various investments the Company holds.