INCOME TAXES	3 Months Ended
Mar. 31, 2014
INCOME TAXES
INCOME TAXES	NOTE D – INCOME TAXES The Company’s statutory federal tax rate is 35%. State tax rates vary among states and average approximately 6.0% to 6.5%, although some state rates are higher and a small number of states do not impose an income tax. The effective tax benefit rate for the three months ended March 31, 2014 was 42.0%. This tax benefit rate reflects a 1.6% benefit from reduced state deferred tax liabilities to reflect enactment of lower tax rates in some states. The effective tax benefit rate for the three months ended March 31, 2013 was 42.5%. The 2013 first quarter rate reflects the benefit of the retroactive reinstatement in January 2013 of the alternative fuel tax credit that had previously expired on December 31, 2011. The $0.9 million benefit of the 2012 credit and the $0.3 million benefit of the first quarter 2013 credit were recognized in the first quarter of 2013. The alternative fuel tax credit expired on December 31, 2013 and will not be available in 2014 unless extended by legislative act. In addition to the state deferred tax reduction described above for the first quarter of 2014, the difference between the Company’s effective tax rate and the federal statutory rate primarily results from state income taxes, nondeductible expenses, changes in the cash surrender value of life insurance, and changes in valuation allowances for deferred tax assets. As of March 31, 2014, the Company’s deferred tax liabilities which will reverse in future years exceeded the deferred tax assets. The Company evaluated the total deferred tax assets at March 31, 2014 and concluded that, other than for certain deferred tax assets related to foreign tax credits, the assets did not exceed the amount for which realization is more likely than not. In making this determination, the Company considered the future reversal of existing taxable temporary differences, taxable income in carryback years, future taxable income, and tax planning strategies. During the three months ended March 31, 2014, the Company received refunds of $2.0 million of federal and state income taxes that were paid in prior years, primarily from loss carrybacks, and the Company paid federal, state, and foreign income taxes of $5.4 million.

INCOME TAXES

3 Months Ended

Mar. 31, 2014

NOTE D – INCOME TAXES

The Company’s statutory federal tax rate is 35%. State tax rates vary among states and average approximately 6.0% to 6.5%, although some state rates are higher and a small number of states do not impose an income tax. The effective tax benefit rate for the three months ended March 31, 2014 was 42.0%. This tax benefit rate reflects a 1.6% benefit from reduced state deferred tax liabilities to reflect enactment of lower tax rates in some states. The effective tax benefit rate for the three months ended March 31, 2013 was 42.5%. The 2013 first quarter rate reflects the benefit of the retroactive reinstatement in January 2013 of the alternative fuel tax credit that had previously expired on December 31, 2011. The $0.9 million benefit of the 2012 credit and the $0.3 million benefit of the first quarter 2013 credit were recognized in the first quarter of 2013. The alternative fuel tax credit expired on December 31, 2013 and will not be available in 2014 unless extended by legislative act.

In addition to the state deferred tax reduction described above for the first quarter of 2014, the difference between the Company’s effective tax rate and the federal statutory rate primarily results from state income taxes, nondeductible expenses, changes in the cash surrender value of life insurance, and changes in valuation allowances for deferred tax assets.

As of March 31, 2014, the Company’s deferred tax liabilities which will reverse in future years exceeded the deferred tax assets. The Company evaluated the total deferred tax assets at March 31, 2014 and concluded that, other than for certain deferred tax assets related to foreign tax credits, the assets did not exceed the amount for which realization is more likely than not. In making this determination, the Company considered the future reversal of existing taxable temporary differences, taxable income in carryback years, future taxable income, and tax planning strategies.

During the three months ended March 31, 2014, the Company received refunds of $2.0 million of federal and state income taxes that were paid in prior years, primarily from loss carrybacks, and the Company paid federal, state, and foreign income taxes of $5.4 million.