Income Taxes

The following table provides details of income taxes:



	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2015			2014			2015			2014
Income (loss) before income taxes	$	10,880		$	2,835		$	22,633		$	(9,201	)
Provision (benefit) for income taxes	$	3,682		$	3,833		$	7,560		$	(3,067	)
Effective tax rate	33.8		%	135.2		%	33.4		%	33.3		%

The income tax provision for the three and nine months ended September 30, 2015 was computed based on the Company’s annual forecast of profit by jurisdiction and forecasted effective tax rate for the year. The changes in the Company’s effective tax rate for the nine months ended September 30, 2015 compared to the same period for the prior year are primarily due to the mix of forecasted earnings by jurisdictions and the availability of utilizing the Section 199 manufacturing deduction in 2015 compared to a book loss in 2014 and the impact of foreign tax expense in excess of foreign tax credits generated.

The Company currently has a partial valuation allowance recorded for certain foreign and state net operating loss and credit carryforwards where the realizability of such deferred tax assets is substantially in doubt. Each quarter, the Company assesses the likelihood that it will be able to recover its deferred tax assets. The Company considers available evidence, both positive and negative, including prudent and feasible tax planning strategies and forecasted earnings in assessing the need for a valuation allowance. As a result of the Company’s analysis, it concluded that it is more likely than not that a portion of its deferred tax assets will not be realized. Therefore, the Company continues to provide a valuation allowance against certain deferred tax assets. The Company continues to monitor available evidence and may reverse some or all of the remaining valuation allowance in future periods, if appropriate. The Company has a recorded valuation allowance against certain of its deferred tax assets of $1,910 as of September 30, 2015 and $2,445 as of December 31, 2014.