Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Following is a summary of the Company’s income tax expense for the years ended December 31:



(In Thousands)	2013			2012			2011
Current Income Tax Expense:
Federal	$	91,664		$	116,234		$	—
State	9,393			10,819			9,797
	101,057			127,053			9,797
Deferred Income Tax Expense (Benefit):
Federal	(35,941		)	(23,035		)	62,015
State	(822		)	(206		)	(2,202		)
	(36,763		)	(23,241		)	59,813
	$	64,294		$	103,812		$	69,610

Significant components of the Company’s deferred income tax liabilities and assets at December 31 are as follows:



(In Thousands)	2013			2012
Deferred Tax Liabilities:
Lease Merchandise and Property, Plant and Equipment	$	249,192		$	279,926
Goodwill & Other Intangibles	34,512			30,754
Other, Net	2,782			3,260
Total Deferred Tax Liabilities	286,486			313,940
Deferred Tax Assets:
Accrued Liabilities	36,778			25,365
Advance Payments	15,400			15,834
Other, Net	8,032			9,677
Total Deferred Tax Assets	60,210			50,876
Less Valuation Allowance	(682		)	(657		)
Net Deferred Tax Liabilities	$	226,958		$	263,721

The Company’s effective tax rate differs from the statutory United States Federal income tax rate for the years ended December 31 as follows:



	2013		2012		2011
Statutory Rate	35.0	%	35.0	%	35.0	%
Increases in United States Federal Taxes
Resulting From:
State Income Taxes, Net of Federal Income Tax Benefit	3.1		2.5		2.7
Federal Tax Credits	(1.7	)	(.1	)	(.3	)
Other, Net	(1.6	)	.1		.6
Effective Tax Rate	34.8	%	37.5	%	38.0	%

The following table summarizes the activity related to the Company’s uncertain tax positions:



(In Thousands)	2013			2012			2011
Balance at January 1,	$	1,258		$	1,412		$	1,315
Additions based on tax positions related to the current year	454			178			178
Additions for tax positions of prior years	423			83			22
Prior year reductions	(5		)	(315		)	(13		)
Statute expirations	(85		)	(83		)	(90		)
Settlements	(85		)	(17		)	—
Balance at December 31,	$	1,960		$	1,258		$	1,412