Income Taxes

9 Months Ended

Sep. 30, 2012

Income Taxes [Abstract]

Income Taxes

(14) Income Taxes

The effective tax rate for the quarters ended September 30, 2012 and 2011 were 20.0% and 64.9%, respectively. The change in the effective tax rate compared to the third quarter of 2011 was the result of a lower estimated annual tax rate for the current year due to an $800 tax benefit related to the Company’s share of a dividend received by its joint venture and the change in the geographical mix of income.

The tax years 2008 through 2011 remain open to examination by the major taxing jurisdictions to which the Company is subject.

Audits of the Company’s 2008 and 2009 U.S. federal income tax returns are in process as of September 30, 2012. To date, no material issues have been raised. Due to the potential for resolution of the examination or expiration of statutes of limitations, it is reasonably possible that the Company’s gross unrecognized tax benefits may change within the next 12 months by a range of zero to $728.

The Company received its 2010 federal tax refund of $2,025 during February 2012 and its 2009 federal income tax refund of $6,344 during January 2011.