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Income Taxes
6 Months Ended
Jun. 30, 2013
Income Taxes [Abstract]  
Income Taxes

NOTE 11: INCOME TAXES

Generally, for interim tax reporting, one overall estimated annual effective tax rate is computed for tax jurisdictions not subject to valuation allowance and applied to the year to date ordinary income/loss. The effective tax rate for the three months ended June 30, 2013 and 2012 was 7.0% and 30.3%, respectively, and the effective tax rate for the six months ended June 30, 2013 and 2012 was 36.0% and 31.0%, respectively. The adjusted tax rate for the three and six months ended June 30, 2013 differed from the U.S. statutory rate primarily due to state tax losses for which the Company does not receive benefit as well as other nondeductible expenses.

As of June 30, 2013 and December 31, 2012, the Company maintained a valuation allowance on certain state net operating loss (principally New Jersey) carryforward deferred tax assets because management determined that it was not more likely than not that it would realize the benefits of such state deferred tax assets.

As of June 30, 2013 and December 31, 2012, the Company had no liability for unrecognized tax benefits. The Company recognizes interest accrued related to unrecognized tax benefits in interest expense. For the six months ended June 30, 2013 and 2012, no interest expense or penalties were incurred relating to unrecognized tax benefits.

The Company and its subsidiaries file a U.S. federal consolidated income tax return. The U.S. federal statute of limitations remains open for the years 2009 and thereafter.