Income Taxes |
6 Months Ended |
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Jun. 30, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | Income Taxes During the three and six months ended June 30, 2016, the Company recorded a tax provision of $9.0 million and $14.6 million, respectively, which reflects income tax expense related to the period’s income before income taxes. The effective tax rate for the three and six months ended June 30, 2016 was 36.2% and 36.7%, respectively, which included expected tax benefits for the domestic production activities deduction and energy tax credits. During the three and six months ended June 30, 2015, the Company recorded a tax provision of $8.5 million and $14.7 million, respectively, which reflects income tax expense related to the period’s income before income taxes. The effective tax rate for both the three and six months ended June 30, 2015 was 39.0%. At June 30, 2016, the Company had federal NOL carryforwards of approximately $7.5 million and federal credit carryforwards of $9.5 million. Our federal NOL carryforwards may be carried forward from one to 16 years to offset future taxable income with the federal carryforward benefits beginning to expire in 2028. The Company had $7.4 million of state NOL carryforwards at June 30, 2016. Our state NOLs may be carried forward from one to 16 years, depending on the tax jurisdiction, with $2.6 million expiring between 2022 and 2027 and $4.8 million expiring between 2028 and 2032, absent sufficient state taxable income. |