Note 11 - Income Taxes

6 Months Ended

Jun. 30, 2019

Notes to Financial Statements

Income Tax Disclosure [Text Block]

( 11 ) Income Taxes

The income tax expense included in the accompanying unaudited condensed consolidated statements of income principally relates to the Company’s proportionate share of the pre-tax income of its wholly-owned subsidiaries. The determination of income tax expense for interim reporting purposes is based upon the estimated effective tax rate for the year, adjusted for the impact of any discrete items which are accounted for in the period in which they occur.

The Company recorded tax expense of approximately

25.6%

and

24.4%

of income before income tax expense for the

three

-month periods ended

June 30, 2019

and

2018,

respectively. The Company recorded tax expense of approximately

24.0%

and

24.5%

of income before income tax expense, for each of the

six

-month periods ended

June 30, 2019

and

2018,

respectively.