TAXES

6 Months Ended

Sep. 30, 2012

Taxes [Abstract]

TAXES

Note 7 — TAXES

We recorded an income tax benefit of $1.9 million and a provision for income taxes of $4.7 million for the three and six months ended September 30,2011, respectively, and a provision for income taxes of $8.3 million and $14.5 million for the three and six months endedSeptember 30,2012, respectively. The three and six months ended September 30, 2012 includes a benefit due to the revaluation of our deferred taxes as a result of the enactment of a tax rate reductions in the U.K. effective April 1, 2012and 2013.This revaluation benefit was partially offset by income tax expense related to other discrete items for the three and six months ended September 30, 2012. The three and six months ended September 30, 2011 includes a benefit due to the revaluation of our deferred taxes as a result of the enactment of a tax rate reduction in theU.K. effective April 1, 2012.The revaluation benefit, net of other discrete items, eliminated any need to provide additional tax expense for the three months ended September 30, 2011.

During the three months and six months endedSeptember 30,2012, we released tax contingency related items totaling $0.1million and $91,158, respectively. During the three months and six months endedSeptember 30,2011, we accrued tax contingency related items totaling $0.7million and $1.3 million, respectively. Our effective tax rate was also impacted by the permanent reinvestment outside the U.S. of foreign earnings, upon which no U.S. tax has been provided, and by the amount of our foreign source income and our ability to realize foreign tax credits.

As of September 30,2012, there were $1.4million of unrecognized tax benefits, all of which would have an impact on our effective tax rate, if recognized. Forthe three months ended September 30,2012 and 2011, we accrued interest and penalties of $30,547and $0.2million, respectively,in connection with uncertain tax positions.For the six months endedSeptember 30,2012 and 2011, we accrued interest and penalties of $69,761and $0.3million, respectively, in connection with uncertain tax positions.