Income Taxes

6 Months Ended

Jun. 30, 2011

Income Taxes

Income Taxes

Note 9 — Income Taxes

The income tax provisions for the quarter and six months ended June 30, 2011 were $9.3 million and $21.5 million, respectively.  The effective tax rate for the quarter and six months ended June 30, 2011 was 20.0% and 25.4%, respectively.  The effective tax rates for the quarter and six months of 2011 reflects the release of $5.5 million of reserves primarily for uncertain tax positions as a result of an audit settlement.  Excluding this benefit, the effective tax rates would have been 31.8% and 31.9% for the current quarter and six-month periods.  The effective tax rate for the quarter and six months ended June 30, 2010 was 31.7% and 23.9%, respectively.  The lower effective rate in the six months of 2010 reflects $3.5 million of New Clean Energy Manufacturing Tax Credits awarded to us in January 2010 for qualifying capital investments incurred at our Colorado facility in 2009.  Excluding this credit, our effective tax rate would have been 30.8%.