Income Taxes

9 Months Ended

Sep. 30, 2011

Income Taxes [Abstract]

INCOME TAXES

16. INCOME TAXES

Management recorded a valuation allowance against deferred tax assets at September 30, 2011 and December 31, 2010, based on its estimate of future reversal and utilization. When determining the amount of deferred tax assets that are more-likely-than-not to be realized, and therefore recorded as a benefit, the Company conducts a regular assessment of all available information. This information includes, but is not limited to, taxable income in prior periods, projected future income, and projected future reversals of deferred tax items. Based on these criteria, the Company determined that it was necessary to establish a full valuation allowance against the entire net deferred tax asset. As of September 30, 2011, the Company has a deferred tax asset of $18.0 million and a deferred tax asset valuation of $18.0 million, resulting in a net deferred tax asset of $0.