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Income Taxes (Tables)
9 Months Ended
Dec. 31, 2015
Income Tax Disclosure [Abstract]  
Differences Between Statutory Income Tax Rate and Effective Tax Rates

The significant differences between the statutory tax rate and effective tax rate for the three and nine months ended December 31, 2015 and 2014 were as follows:

 

 

 

For the Three Months Ended December 31,

 

 

For the Nine Months Ended December 31,

 

 

 

 

 

2015

 

 

 

2014

 

 

 

2015

 

 

 

2014

 

 

Statutory income tax rate

 

 

35.0

%

 

 

34.0

%

 

 

35.0

%

 

 

34.0

%

 

Increase (decrease) resulting from:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Losses not benefited

 

 

 

 

 

(26.6

)

 

 

 

 

 

(24.4

)

 

Credits

 

 

(1.7

)

 

 

 

 

 

(1.5

)

 

 

 

 

State taxes, net

 

 

3.2

 

 

 

 

 

 

3.4

 

 

 

 

 

Permanent differences

 

 

3.2

 

 

 

 

 

 

3.4

 

 

 

 

 

Other

 

 

 

 

 

 

 

 

0.2

 

 

 

 

 

Effective tax rate

 

 

39.7

%

 

 

7.4

%

 

 

40.5

%

 

 

9.6

%