Income Taxes

6 Months Ended

Jun. 24, 2012

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

We had an income tax benefit of $36.5 million (effective tax rate of 30.4%) in the second quarter of 2012 and an income tax benefit of $32.5 million (effective tax rate of 31.5%) in the first six months of 2012. A lower tax rate applied to the charge for the impairment of goodwill at the About Group and the size of the charge relative to our total pre-tax loss from continuing operations had an unfavorable impact on the effective tax rate in both periods.

We had an effective tax rate of 16.5% in the second quarter of 2011 and 8.6% in the first six months of 2011. The effective tax rate for the second quarter and first six months of 2011 was favorably impacted by adjustments to reduce our reserve for uncertain tax positions and state law changes.