Income Taxes

6 Months Ended

Jun. 30, 2013

Income Taxes [Abstract]

Income Taxes

Income Taxes

Our effective tax rate for the six months ended June 30, 2013 and 2012 was 33.5% and 33.7%, respectively.

In connection with the conversion of our 2033 Notes and 2038 Notes, we reclassified $52.7 million, representing the excess of the accreted value of the notes for income tax purposes over the conversion value, from long-term deferred tax liability to current taxes payable. In addition, we reclassified $34.5 million, representing the difference between the issue price of the notes and the conversion value, from long-term deferred tax liability to additional paid-in capital. We expect that the tax liability resulting from the conversion of the notes will be paid in the third and fourth quarters of 2013.

At June 30, 2013, our unrecognized tax benefits were $139.6 million. Of this amount, approximately $60.9 million would affect our effective tax rate upon resolution of the uncertain tax positions.