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Income Taxes
9 Months Ended
Sep. 30, 2014
Income Tax Disclosure [Abstract]  
INCOME TAXES
INCOME TAXES
The Company had effective tax rates of 35.8% and 36.4% for the three and nine months ended September 30, 2014, respectively. Total income tax expense for the three and nine months ended September 30, 2014 differed from amounts computed by applying the U.S. federal statutory tax rates to pre-tax income due to the impact of permanent differences between book and taxable income. Based upon its projections for the remainder of 2014 and 2013, the Company anticipated incurring a small alternative minimum tax (“AMT”) liability for the years ending December 31, 2014 and 2013, the proportionate shares of which were recorded as the current income tax provision for the three and nine months ended September 30, 2014 and 2013. The Company had effective tax rates of 11.3% and 8.2% for the three and nine months ended September 30, 2013, respectively. Total income tax expense for the three and nine months ended September 30, 2013 differed from amounts computed by applying the U.S. federal statutory tax rate to pre-tax income due primarily to the reversal of a valuation allowance of approximately $6.7 million on the Company’s federal deferred tax assets at September 30, 2013, and the impact of permanent differences between book and taxable income.