Note 5 - Income Taxes

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

5.    Income Taxes

The components of the provision for income taxes consisted of the following:

(In thousands)	2013		2012			2011
Current:
Federal	$	15,964	$	12,728		$	6,524
State		1,889		587			1,362
		17,853		13,315			7,886
Deferred:
Federal		3,909		5,542			9,837
State		394		(720	)		239
		4,303		4,822			10,076
Total provision	$	22,156	$	18,137		$	17,962

 The statutory federal income tax rate is reconciled to the effective income tax rate as follows:

	2013			2012			2011
Statutory federal income tax rate		35	%		35	%		35	%
Per diem and other non-deductible expenses		4			5			6
Increase in taxes arising from state income taxes, net of federal income tax benefit		3			-			3
Other		-			-			(1	)
Effective tax rate		42	%		40	%		43	%

Our effective income tax rate increased to 42.4% in 2013 from 39.9% in 2012 primarily due to a decrease in 2012 to our deferred income tax liability as a result of a change in income apportionment for several states.

As of December 31, the net deferred tax liability consisted of the following:

(In thousands)	2013		2012
Deferred tax assets:
Reserves and accrued liabilities	$	6,051	$	5,687
Other		2,796		2,714
		8,847		8,401
Deferred tax liabilities:
Depreciation		116,438		111,794
Prepaid expenses		2,631		2,526
		119,069		114,320
Net deferred tax liability	$	110,222	$	105,919

We have not provided a valuation allowance against deferred tax assets at December 31, 2013 or 2012. We believe the deferred tax assets will be realized principally through future reversals of existing taxable temporary differences (deferred tax liabilities) and future taxable income.

Our reserves for unrecognized tax benefits were $340,000 as of December 31, 2013 and $281,000 as of December 31, 2012. The $59,000 increase in the amount reserved in 2013 relates to current period tax positions offset by the removal of the reserve relating to 2008. The amount reserved as of December 31, 2012 was added in 2008 through 2012 relating to current period tax positions. If recognized, $221,000 of the unrecognized tax benefits as of December 31, 2013 would impact our effective tax rate. No potential interest or penalties related to unrecognized tax benefits were recognized in our financial statements as of December 31, 2013. We do not expect the reserves for unrecognized tax benefits to change significantly within the next twelve months.

The federal statute of limitations remains open for 2010 and forward. We file tax returns in numerous state jurisdictions with varying statutes of limitations.