Income Taxes	6 Months Ended
Jun. 30, 2013
Income Taxes	NOTE 4 – INCOME TAXES The Company recognized an income tax benefit (expense) of $101.4 million and $(0.3) million for the three months ended June 30, 2013 and 2012, respectively, and $101.2 million and $(1.0) million for the six months ended June 30, 2013 and 2012, respectively. The Company’s effective tax rate was (618.3)% and 3.0% for the three months ended June 30, 2013 and 2012, respectively, and (652.9)% and 7.3% for the six months ended June 30, 2013 and 2012, respectively. A valuation allowance is required to be established or maintained when, based on currently available information and other factors, it is more likely than not that all or a portion of a deferred tax asset will not be realized. The guidance on accounting for income taxes provides important factors in determining whether a deferred tax asset will be realized, including whether there has been sufficient taxable income in recent years and whether sufficient income can reasonably be expected in future years in order to utilize the deferred tax asset. We have evaluated the need to maintain a valuation allowance for deferred tax assets based on our assessment of whether it is more likely than not that deferred tax benefits will be realized through the generation of future taxable income. Appropriate consideration is given to all available evidence, both positive and negative, in assessing the need for a valuation allowance. In the second quarter of 2013, this evaluation resulted in the determination that a significant portion of our valuation allowance on U.S. deferred tax assets could be released. The qualitative and quantitative analysis of current and expected domestic earnings, industry and market trends, tax planning strategies, and general business risks resulted in a more likely than not conclusion of being able to realize a significant portion of our U.S. deferred tax assets. Total deferred tax asset valuation allowances decreased discretely by $102.4 million in the second quarter of 2013. We have been able to sustain positive earnings despite low demand for products and services that has occurred in many of our markets during the current and previous three years. Our earnings have become positive on a cumulative basis through this period. In addition, market demand and our performance in many of our markets have improved during this period, and during the current year, and demand and earnings performance are expected to continue into the foreseeable future. In addition, we have exited a business segment which had produced losses. We continue to maintain a valuation allowance on certain federal, state, and foreign (principally Spain & Canada) deferred tax assets that we believe, on a more likely than not basis, will not be realized. In addition, we will maintain a valuation allowance of $6.7 million which will be released over the following two quarters as income is recognized under the guidance provided in ASC 740-270-25-4. Each quarter, we continue to evaluate the recoverability of our deferred tax assets, weighing all positive and negative evidence. The Company’s unrecognized tax benefits were $4.2 million and $4.0 million at June 30, 2013 and December 31, 2012, respectively, of which $4.2 million and $3.9 million are tax benefits that, if recognized, would reduce the annual effective tax rate. However, to the extent we continue to maintain a valuation allowance against certain deferred tax assets, the effect may be in the form of an increase in the deferred tax asset related to our net operating loss carry forward, which would be offset by a valuation allowance. The Company’s continuing practice is to recognize interest and penalties related to income tax matters in income tax expense. Interest and penalties amounting to $0.2 million and $0.1 million, respectively, are recorded on the Company’s consolidated balance sheet. The Company expects the unrecognized tax benefits to decrease by $1.6 million over the next 12 months due to (i) the potential expiration of statutes of limitations and (ii) settlements with tax authorities.

NOTE 4 – INCOME TAXES

The Company recognized an income tax benefit (expense) of $101.4 million and $(0.3) million for the three months ended June 30, 2013 and 2012, respectively, and $101.2 million and $(1.0) million for the six months ended June 30, 2013 and 2012, respectively. The Company’s effective tax rate was (618.3)% and 3.0% for the three months ended June 30, 2013 and 2012, respectively, and (652.9)% and 7.3% for the six months ended June 30, 2013 and 2012, respectively.

A valuation allowance is required to be established or maintained when, based on currently available information and other factors, it is more likely than not that all or a portion of a deferred tax asset will not be realized. The guidance on accounting for income taxes provides important factors in determining whether a deferred tax asset will be realized, including whether there has been sufficient taxable income in recent years and whether sufficient income can reasonably be expected in future years in order to utilize the deferred tax asset.

We have evaluated the need to maintain a valuation allowance for deferred tax assets based on our assessment of whether it is more likely than not that deferred tax benefits will be realized through the generation of future taxable income. Appropriate consideration is given to all available evidence, both positive and negative, in assessing the need for a valuation allowance. In the second quarter of 2013, this evaluation resulted in the determination that a significant portion of our valuation allowance on U.S. deferred tax assets could be released. The qualitative and quantitative analysis of current and expected domestic earnings, industry and market trends, tax planning strategies, and general business risks resulted in a more likely than not conclusion of being able to realize a significant portion of our U.S. deferred tax assets. Total deferred tax asset valuation allowances decreased discretely by $102.4 million in the second quarter of 2013.

We have been able to sustain positive earnings despite low demand for products and services that has occurred in many of our markets during the current and previous three years. Our earnings have become positive on a cumulative basis through this period. In addition, market demand and our performance in many of our markets have improved during this period, and during the current year, and demand and earnings performance are expected to continue into the foreseeable future. In addition, we have exited a business segment which had produced losses.

We continue to maintain a valuation allowance on certain federal, state, and foreign (principally Spain & Canada) deferred tax assets that we believe, on a more likely than not basis, will not be realized. In addition, we will maintain a valuation allowance of $6.7 million which will be released over the following two quarters as income is recognized under the guidance provided in ASC 740-270-25-4. Each quarter, we continue to evaluate the recoverability of our deferred tax assets, weighing all positive and negative evidence.

The Company’s unrecognized tax benefits were $4.2 million and $4.0 million at June 30, 2013 and December 31, 2012, respectively, of which $4.2 million and $3.9 million are tax benefits that, if recognized, would reduce the annual effective tax rate. However, to the extent we continue to maintain a valuation allowance against certain deferred tax assets, the effect may be in the form of an increase in the deferred tax asset related to our net operating loss carry forward, which would be offset by a valuation allowance.

The Company’s continuing practice is to recognize interest and penalties related to income tax matters in income tax expense. Interest and penalties amounting to $0.2 million and $0.1 million, respectively, are recorded on the Company’s consolidated balance sheet. The Company expects the unrecognized tax benefits to decrease by $1.6 million over the next 12 months due to (i) the potential expiration of statutes of limitations and (ii) settlements with tax authorities.