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Income Taxes
3 Months Ended
Mar. 31, 2013
Income Tax Expense (Benefit) [Abstract]  
Income Taxes
Income Taxes
The Company recorded an income tax benefit of $5.4 million for the first quarter of 2013. The Company’s effective income tax rate for the first quarter of 2013 was 2.5 percent. The difference between the federal statutory income tax rate of 35 percent and the Company’s effective rate of 2.5 percent for the first three months of 2013 is primarily due to the impact of impairment of goodwill and other long-lived assets (approximately 32.7 percent) and other items (approximately 0.1 percent), offset by state income taxes, net of federal benefit (approximately 0.3 percent).
The Company recorded an income tax provision of $2.5 million for the first quarter of 2012. The Company’s effective income tax rate for the first quarter of 2012 was 33.4 percent. The difference between the federal statutory income tax rate of 35 percent and the Company’s effective rate of 33.4 percent for the first three months of 2012 is primarily due to state income taxes (approximately 4.9 percent) and other items (approximately 1.1 percent), offset by a changes in tax reserves (approximately 7.6 percent).