Income Taxes	9 Months Ended
Sep. 30, 2015
Income Taxes
Income Taxes	5.Income Taxes Our effective tax rate decreased to 38.1% from 42.0% for the three months ended September 30, 2015 and 2014, respectively, and decreased to 41.3% from 42.4% for the nine months ended September 30, 2015 and 2014, respectively, primarily due to changes in state apportionments and permanent differences. The principal differences between the statutory rate and our effective rate are state taxes and permanent differences. In April 2015, legislation was signed changing New York City tax law, which resulted in us recognizing approximately $0.6 million in discrete tax expense during the second quarter of 2015. This discrete item had no impact on the effective tax rate for the three months ended September 30, 2015 and a 1.3% impact for the nine months ended September 30, 2015. During the three and nine month period ended September 30, 2015, the Company recorded a discrete income tax benefit of $0.3 million from the release of an accrued liability for unrecognized tax benefits due to lapse in statute of limitations. This discrete item had an approximate tax rate impact of 2.8% and 1.1% for the three and nine months ended September 30, 2015, respectively. During the nine months ended September 30, 2015, we utilized $4.0 million in tax deductions arising from stock-based compensation, which resulted in an excess tax benefit of $1.5 million that was recorded to capital in excess of par value and an offsetting reduction to taxes payable. As of September 30, 2015 and 2014, the total amount of unrecognized tax benefits was approximately $1.1 million and $1.6 million, respectively (net of the federal benefit for state issues) that, if recognized, would favorably affect our future effective tax rate. As of September 30, 2015 and 2014, the accrued liability for interest expense and penalties related to unrecognized tax benefits was $0.4 million and $0.3 million, respectively. We include interest expense and penalties in the provision for income taxes in the unaudited Consolidated Statements of Comprehensive Income. The amount of interest expense (net of federal and state income tax benefits) and penalties in the unaudited Consolidated Statements of Comprehensive Income for the nine months ended September 30, 2015 and 2014 was immaterial. We do not expect any significant change in unrecognized tax benefits during the next twelve months. We file income tax returns with the U.S. Federal government and various state jurisdictions. We are no longer subject to U.S. Federal income tax examinations for years before 2012. We operate in a number of state and local jurisdictions, most of which have never audited our records. Accordingly, we are subject to state and local income tax examinations based upon the various statutes of limitations in each jurisdiction. We are currently being examined by the State of New York.

5.Income Taxes

Our effective tax rate decreased to 38.1% from 42.0% for the three months ended September 30, 2015 and 2014, respectively, and decreased to 41.3% from 42.4% for the nine months ended September 30, 2015 and 2014, respectively, primarily due to changes in state apportionments and permanent differences. The principal differences between the statutory rate and our effective rate are state taxes and permanent differences.

In April 2015, legislation was signed changing New York City tax law, which resulted in us recognizing approximately $0.6 million in discrete tax expense during the second quarter of 2015. This discrete item had no impact on the effective tax rate for the three months ended September 30, 2015 and a 1.3% impact for the nine months ended September 30, 2015.

During the three and nine month period ended September 30, 2015, the Company recorded a discrete income tax benefit of $0.3 million from the release of an accrued liability for unrecognized tax benefits due to lapse in statute of limitations. This discrete item had an approximate tax rate impact of 2.8% and 1.1% for the three and nine months ended September 30, 2015, respectively.

During the nine months ended September 30, 2015, we utilized $4.0 million in tax deductions arising from stock-based compensation, which resulted in an excess tax benefit of $1.5 million that was recorded to capital in excess of par value and an offsetting reduction to taxes payable.

As of September 30, 2015 and 2014, the total amount of unrecognized tax benefits was approximately $1.1 million and $1.6 million, respectively (net of the federal benefit for state issues) that, if recognized, would favorably affect our future effective tax rate. As of September 30, 2015 and 2014, the accrued liability for interest expense and penalties related to unrecognized tax benefits was $0.4 million and $0.3 million, respectively. We include interest expense and penalties in the provision for income taxes in the unaudited Consolidated Statements of Comprehensive Income. The amount of interest expense (net of federal and state income tax benefits) and penalties in the unaudited Consolidated Statements of Comprehensive Income for the nine months ended September 30, 2015 and 2014 was immaterial. We do not expect any significant change in unrecognized tax benefits during the next twelve months.

We file income tax returns with the U.S. Federal government and various state jurisdictions. We are no longer subject to U.S. Federal income tax examinations for years before 2012. We operate in a number of state and local jurisdictions, most of which have never audited our records. Accordingly, we are subject to state and local income tax examinations based upon the various statutes of limitations in each jurisdiction. We are currently being examined by the State of New York.