Taxes on Income

3 Months Ended

Mar. 31, 2013

Income Tax Disclosure [Abstract]

Taxes on Income

TAXES ON INCOME:

The following tables summarize the Company’s income taxes from continuing operations for the periods presented:

	Successor						Predecessor
	Three Months Ended March 31, 2013			Period from Acquisition (March 26, 2012) to March 31, 2012			Period from January 1, 2012 to March 25, 2012
Total income tax expense (benefit) from continuing operations	$	10		$	(12	)	$	12
Effective tax rate	41		%	23		%	27		%

The Company’s effective income tax rate for the period ended March 31, 2013 was higher than the U.S. federal income tax statutory rate of 35% primarily due to state income taxes.  During the period from March 26, 2012 to March 31, 2012, the Company’s effective income tax rate was lower than the federal statutory rate primarily due to the Company’s pre-tax loss as a result of merger-related expenses coupled with non-deductible executive compensation included in the merger-related expenses. During the period from January 1, 2012 to March 25, 2012, the effective income tax rate was lower than the federal statutory rate primarily as a result of the dividend received deduction for the anticipated receipt of dividends associated with the earnings from the Company’s prior unconsolidated investment in Citrus.