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Income Taxes
3 Months Ended
Mar. 31, 2017
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes  
 
The Company is subject to U.S. Federal income taxes as well as income taxes of multiple state jurisdictions. For Federal and state tax purposes, the tax years from 2013 to 2016 remain open to examination.

The Company recognized income tax expense for the three months ended March 31, 2017 and March 31, 2016 of $3.8 million and $6.3 million, respectively, or effective tax rates of 46.1% and 37.7%, respectively. The increase in the effective tax rate is primarily due to the implementation of ASU No. 2016-09, Compensation - Stock Compensation (Topic 718) which resulted in an additional $0.5 million in additional income tax expense in the current year period. Under ASU No. 2016-09, excess tax benefits and tax deficiencies associated with stock based compensation must be recognized in the income statement and in operating activities on the statements of cash flows. Previously, the excess tax benefits and tax deficiencies were recorded in additional paid-in capital under stockholders’ equity on the balance sheet and under financing activities on the statements of cash flow. Because expiring stock options with an exercise price greater than the current stock price expired during the quarter, the reversal of the tax benefit that was reported when the stock options were issued is now recorded in the income statement.