Income Taxes

3 Months Ended

Mar. 31, 2012

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES

The Company's provision for income taxes in interim periods is based on an estimated annual effective income tax rate derived, in part, from estimated annual pre-tax results from ordinary operations. The annual effective income tax rate is reviewed and, if necessary, adjusted on a quarterly basis.

The Company's income tax (benefit) expense consisted of the following:

	Three Months Ended
	March 31,
	2012			2011
(Loss) income before provision for income taxes	$	(11,182	)	$	32,022
Income tax (benefit) expense using estimated annual effective income tax rate	(4,249		)	12,649
Out-of-period adjustment related to non-deductible expense in 2011	757			—
Income tax (benefit) expense	$	(3,492	)	$	12,649

The out-of-period adjustment related to a non-accrual of a non-deductible expense related to permanent difference for income taxes in the fourth quarter of 2011. The Company assessed the materiality of this error on all previously issued financial statements and concluded that the error was immaterial to all previously issued financial statements. The impact of correcting this error in the current year is not expected to be material to the Company’s 2012 consolidated financial statements.