Income Taxes

9 Months Ended

Sep. 30, 2019

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

For the three months ended September 30, 2019, the Company recognized an income tax expense of $5.7 million on pre-tax earnings of $20.7 million compared to $5.6 million income tax expense on pre-tax earnings of $20.1 million for the three months ended September 30, 2018. For the nine months ended September 30, 2019, the Company recognized an income tax expense of $14.6 million on pre-tax earnings of $56.8 million compared to $16.9 million income tax expense on pre-tax earnings of $63.5 million for the nine months ended September 30, 2018. The effective tax rate was approximately 25.7% for the nine months ended September 30, 2019 compared to 26.6% for the nine months ended September 30, 2018. The effective tax rate for the nine months ended September 30, 2019 decreased primarily due to a decrease in state income taxes.

As of September 30, 2019, the Company has not identified any uncertain tax positions that would have a material impact on the Company’s financial position. The Company recognizes potential interest and penalties related to uncertain tax positions, if any, in income tax expense. 

The tax years that remain subject to examination for the Company’s major tax jurisdictions at September 30, 2019 are shown below:

2016 – 2018 United States — federal income tax 

2012 – 2018 United States — state and local income tax 

2015 – 2018 Canada and Puerto Rico