Income Taxes |
3 Months Ended |
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Mar. 31, 2016 | |
| Income Taxes [Abstract] | |
| Income Taxes |
(9) Income Taxes
Our effective tax rate was 36.0% and 38.9% for the three months ended March 31, 2016 and 2015, respectively. Income tax expense during interim periods is based on our estimated annual effective income tax rate plus any discrete items that are recorded in the period in which they occur. Our tax rate is affected by discrete items that may occur in any given year, but may not be consistent from year to year. The lower effective tax rate for the quarter ended March 31, 2016 primarily results from a 2.3 percentage points decrease due to fair value changes of $1.4 million to the earn-out obligation and certain benefits associated with the Aviation Acquisition. The higher effective tax rate for the quarter ended March 31, 2015 is primarily due to approximately $900 thousand of transaction costs that were not deductible for tax purposes, which increased our effective tax rate in 2015.
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