Income Taxes

9 Months Ended

Sep. 30, 2015

Income Taxes

NOTE 5 – INCOME TAXES
Income Tax Expense
The Company’s income tax expense for the three and nine months ended September 30, 2015 and 2014, respectively, consisted of the following components:
(In thousands)	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Current tax expense	$	(2,144)	$	(11,689)	$	(65,838)	$	(47,276)
Deferred tax expense		(697)		(12,687)		(15,685)		(44,866)
Income tax expense	$	(2,841)	$	(24,376)	$	(81,523)	$	(92,142)

The effective tax rates for the three and nine months ended September 30,2015 were(1.3)% and (14.4)%, respectively. The effective tax rates for the three and nine months ended September 30,2014 were (29.2)% and (14.9)%, respectively. The effective tax rates for the three and nine months ended September 30,2015and 2014were primarily impacted by the valuation allowance recorded against deferred tax assets resulting from applicable period net operating losses in U.S. federal, state and certain foreign jurisdictions due to the uncertainty of the ability to utilize those assets in future periods.