Income Taxes	9 Months Ended
Sep. 30, 2012
Income Taxes
Income Taxes	Income Taxes During 2012, the Company recorded $45.0 million of U.S. federal and $6.3 million of state deferred tax liabilities in connection with the NextG Acquisition. In the second quarter of 2012, the Company also reversed a total of $70.1 million of federal and $20.0 million of state valuation allowances to the benefit (provision) for income taxes resulting from (1) the NextG Acquisition and (2) our determination that the Company is more likely than not to realize these deferred tax assets as a result of the Company's recent historical trends of taxable income and anticipated future taxable income. As a result of the valuation allowance reversal in the second quarter of 2012, the Company is now in a position to record a full U.S. federal tax provision on earnings. The effective tax rate differs from the federal statutory rate primarily due to state taxes. The Company provides for income taxes at the end of each interim period based on the estimated effective tax rate for the full fiscal year. Cumulative adjustments to the Company's estimate are recorded in the interim period in which a change in the estimated annual effective rate is determined. The remaining valuation allowances as of September 30, 2012 relate to deferred tax assets associated principally with (1) U.S. federal capital losses ($29.4 million), (2) certain state net operating losses ($9.6 million), and (3) deferred tax assets associated with CCAL ($60.0 million). See also note 15.

Income Taxes

9 Months Ended

Sep. 30, 2012

During 2012, the Company recorded $45.0 million of U.S. federal and $6.3 million of state deferred tax liabilities in connection with the NextG Acquisition. In the second quarter of 2012, the Company also reversed a total of $70.1 million of federal and $20.0 million of state valuation allowances to the benefit (provision) for income taxes resulting from (1) the NextG Acquisition and (2) our determination that the Company is more likely than not to realize these deferred tax assets as a result of the Company's recent historical trends of taxable income and anticipated future taxable income.

As a result of the valuation allowance reversal in the second quarter of 2012, the Company is now in a position to record a full U.S. federal tax provision on earnings. The effective tax rate differs from the federal statutory rate primarily due to state taxes. The Company provides for income taxes at the end of each interim period based on the estimated effective tax rate for the full fiscal year. Cumulative adjustments to the Company's estimate are recorded in the interim period in which a change in the estimated annual effective rate is determined.

The remaining valuation allowances as of September 30, 2012 relate to deferred tax assets associated principally with (1) U.S. federal capital losses ($29.4 million), (2) certain state net operating losses ($9.6 million), and (3) deferred tax assets associated with CCAL ($60.0 million).