Income Taxes	3 Months Ended
Mar. 31, 2016
Income Taxes
Income Taxes	6. Income Taxes Income tax expense for the three months ended March 31, 2016 and March 31, 2015 was $2.9 million and $1.4 million, respectively. The effective tax rates for the three months ended March 31, 2016 and March 31, 2015 were 43.7% and 38.5%, respectively. The increase was primarily due to the impact of the IRS code 162(m) calculation for executive compensation for the three months ended March 31, 2016. The Company records tax expense or benefit for unusual or infrequent items discretely in the period in which they occur. Our tax rate is subject to change based on changes in the mix of assets leased to domestic and foreign lessees, the proportions of revenue generated within and outside of California, the amount of executive compensation exceeding $1.0 million as defined in IRS code 162(m) and numerous other factors, including changes in tax law.

Income Taxes

3 Months Ended

Mar. 31, 2016

6. Income Taxes

Income tax expense for the three months ended March 31, 2016 and March 31, 2015 was $2.9 million and $1.4 million, respectively. The effective tax rates for the three months ended March 31, 2016 and March 31, 2015 were 43.7% and 38.5%, respectively. The increase was primarily due to the impact of the IRS code 162(m) calculation for executive compensation for the three months ended March 31, 2016.

The Company records tax expense or benefit for unusual or infrequent items discretely in the period in which they occur. Our tax rate is subject to change based on changes in the mix of assets leased to domestic and foreign lessees, the proportions of revenue generated within and outside of California, the amount of executive compensation exceeding $1.0 million as defined in IRS code 162(m) and numerous other factors, including changes in tax law.