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Income Taxes
9 Months Ended
Sep. 30, 2017
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes

The Company recorded an income tax benefit of $0.9 million and $6.7 million during the three and nine months ended September 30, 2017, respectively, and recorded income tax expense of $1.0 million and $4.1 million during the three and nine months ended October 1, 2016, respectively.

During the first nine months of 2017, the Company reversed the valuation allowance related to its Alternative Minimum Tax ("AMT") credit carryforward in the amount of $6.0 million. This reversal is based upon the Company’s ability to receive, as a refundable tax credit, a portion of its AMT credit carryforward, without regard to any, or the level of, taxable income generated in our tax returns to be filed for the years 2016 through 2019. As a result of this analysis, the Company concluded that $6.0 million of its $6.5 million available AMT credit carryforward is more likely than not to be realized as a result of federal tax elections that are available to the Company now through 2019, $2.7 million of which is expected to be realized with the Company’s 2016 federal income tax return filing completed during the third quarter of 2017.