Income Taxes

3 Months Ended

Mar. 31, 2013

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 8 - INCOME TAXES

The provision for income taxes was $151 million and $69 million for the three months ended March 31, 2013 and 2012, respectively, representing effective tax rates of 30% and 22%, respectively. The Company calculated the provision for income taxes for the three months ended March 31, 2013, by applying the estimated annual effective tax rate to year-to-date pre-tax income. For the three months ended March 31, 2012, the provision for income taxes was calculated discretely based on actual year-to-date results. Interest and penalties related to tax matters are recorded as a component of the income tax provision.