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Income Taxes
3 Months Ended
Mar. 31, 2015
Income Tax Disclosure [Abstract]  
INCOME TAXES
INCOME TAXES
The Company had an effective tax rate of 34.4% for the three months ended March 31, 2015. Total income tax benefit for the three months ended March 31, 2015 differed from amounts computed by applying the U.S. federal statutory tax rate to pre-tax loss due primarily to the impact of permanent differences between book and taxable income. The total income tax benefit of $26.4 million for the three months ended March 31, 2015 includes $24.3 million of deferred income tax benefit resulting from the full-cost ceiling impairment. Based upon its projections for the remainder of 2014, the Company anticipated incurring a small alternative minimum tax (“AMT”) liability for the year ending December 31, 2014, the proportionate share of which was recorded as the current income tax provision for the three months ended March 31, 2014. The Company had an effective tax rate of 36.8% for the three months ended March 31, 2014. Total income tax expense for the three months ended March 31, 2014 differed from amounts computed by applying the U.S. federal statutory tax rate to pre-tax income due primarily to the impact of permanent differences between book and taxable income.