|
Income Taxes
|
9 Months Ended |
|---|---|
|
Sep. 30, 2012
|
|
| Income Tax Disclosure [Abstract] | |
| Income Taxes |
INCOME TAXES
At September 30, 2012, the Company revised the projected annual effective rate based upon the latest taxable income forecast that includes the impact of the Diamondback Contribution discussed in Note 3. As a result, the Company determined on a more likely than not basis, it would recognize approximately $8,992,000 of its deferred tax assets which had previously been subject to a valuation allowance. In addition, the Company recognized a $15,514,000 deferred income tax expense due to the revised projected annual effective rate, which is included in income tax expense in the consolidated statements of operations. The Company continues to provide a valuation allowance of approximately $3,355,000 against certain state net operating losses which may expire before utilization.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|