Note 5 - Income Taxes

9 Months Ended

Sep. 30, 2015

Notes to Financial Statements

Income Tax Disclosure [Text Block]

(5)

       

Income

Taxes

The tax provision from continuing operations for the three and nine months ended September 30, 2015 was expense of $5,330 and $18,569, respectively, compared to expense of $2,537 and a benefit of $6,424 for the three and nine months ended September 30, 2014, respectively. The tax provision for the three and nine months ended September 30, 2014 included benefits of $824 and $15,183, respectively, for a partial reversal of a deferred tax valuation allowance against domestic federal foreign tax credits. The effective tax rate for the three and nine months ended September 30, 2015 was 31.0% and 31.9%, respectively. Excluding the benefit related to the reversal of the deferred tax valuation allowance and the impact of a $4,122 loss on the acquisition of Zenara shares recorded in 2014, the effective tax rate for the three and nine months ended September 30, 2014 was 29.4% and 31.8%, respectively.