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INCOME TAXES
9 Months Ended
Dec. 31, 2016
INCOME TAXES [Abstract]  
INCOME TAXES
NOTE 16. INCOME TAXES

During the three months ended December 31, 2016 and 2015, our income tax provision was $3.9 million, based on an effective tax rate of 36%, and $3.5 million, based on an effective tax rate of 31%, respectively. The increase in the effective tax rate during the three months ended December 31, 2016, as compared to the same period last year, was primarily attributable to lower federal benefits for qualified production activities during the three months ended December 31, 2016 and the impact of the benefit from the retroactive reinstatement of the federal research credit on December 18, 2015, when the federal research credit was permanently extended, retroactive to January 1, 2015, and as a result, in the third quarter of fiscal 2016, the period in which the legislation was enacted, we recognized the retroactive benefit of the federal research credit.
 
During the nine months ended December 31, 2016 and 2015, our income tax provision was $14.3 million, based on an effective tax rate of 36%, and $12.0 million, based on an effective tax rate of 34%, respectively. The increase in the effective tax rate during the nine months ended December 31, 2016, as compared to the same period last year, was primarily attributable to lower federal benefits for qualified production activities during the nine months ended December 31, 2016 and the impact of the benefit from the retroactive reinstatement of the federal research credit on December 18, 2015, when the federal research credit was permanently extended, retroactive to January 1, 2015, and as a result, in the third quarter of fiscal 2016, the period in which the legislation was enacted, we recognized the retroactive benefit of the federal research credit.

We are subject to income taxes in the U.S. and various foreign jurisdictions. Accordingly, we are subject to a variety of examinations by taxing authorities in these locations. We did not have any unrecognized tax benefits as of December 31, 2016 and March 31, 2016. During the three and nine months ended December 31, 2016 and 2015, we did not recognize any interest or penalties related to unrecognized tax benefits. During the three months ended December 31, 2016, the state of California commenced an examination of our tax returns for fiscal years 2014 and 2015. As of December 31, 2016, there had been no proposed assessments and we are unable to estimate the range of possible outcomes at this time.