XML 27 R16.htm IDEA: XBRL DOCUMENT v3.8.0.1
Income Taxes
9 Months Ended
Sep. 30, 2017
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes:

The Company’s effective income tax rate decreased to 36.4% in the third quarter of fiscal 2017 compared to 36.5% for the third quarter of fiscal 2016. The decrease for the third quarter of fiscal 2017 compared to the third quarter of fiscal 2016 is primarily due to lower state effective tax rates resulting from our income mix, offset in part by fewer state credits recognized this year as compared to last year.

For the first nine months of fiscal 2017, the Company’s effective income tax rate decreased to 36.5% compared to 36.7% for the first nine months of fiscal 2016. The decrease in the effective income tax rate was primarily driven by net excess tax benefits associated with the settlement of share-based payment awards due to the adoption of ASU 2016-09 (as discussed in Note 13), along with an increase in federal work opportunity tax credits recognized, partially offset by an increase in nondeductible expenses.