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Note 12. Income Taxes
9 Months Ended
Sep. 30, 2017
Income Tax Disclosure [Abstract]  
Note 12. Income Taxes

In determining the quarterly provision for income taxes, the Company uses an estimated annual effective tax rate based on expected annual income, statutory tax rates, and available tax planning opportunities in the various jurisdictions in which the Company operates. Unusual or infrequently occurring items are separately recognized during the quarter in which they occur.

 

Income tax benefit for the third quarter of 2017 was $25,226 compared to $44,129 for the third quarter of 2016.   Income tax benefit for the first nine months of 2017 was $21,085 compared to an expense of $5,011 for the first nine months of 2016. The variance in income taxes between 2017 and 2016 is primarily attributable to taxes on income from investment partnerships and losses generated by the investment partnerships.

 

As of September 30, 2017 and December 31, 2016, we had approximately $362 and $396, respectively, of unrecognized tax benefits, which are included in other liabilities in the consolidated balance sheets.