v2.4.0.6
Income Taxes (Tables)
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3 Months Ended |
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Income Tax Disclosure [Abstract] |
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Schedule of Components of Income Tax Expense (Benefit) |
A summary of the income tax expense recorded for the three months ended September 30, 2012 and 2011 is as follows: | | | | | | | | | | (In thousands) | | Three Months Ended | | | |
| | |
| | | (Unaudited) | Income (loss) before taxes | | $ | 3,296 |
| | $ | (7,238 | ) | Income tax expense (benefit) at statutory rate | | $ | 1,121 |
| | $ | (2,461 | ) | State income tax (net of federal tax benefit) | | 429 |
| | (280 | ) | Dividend income exclusion | | — |
| | (50 | ) | Valuation allowance | | (1,235 | ) | | 3,082 |
| Other permanent items | | 107 |
| | 55 |
| Income tax expense | | $ | 422 |
| | $ | 346 |
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Summary of Income Tax Contingencies |
| | | | | | | | | | | | As of | (In thousands) | | 2012 | | 2012 | | | (Unaudited) | | | Total unrecognized tax benefits* | | $ | 3,211 |
| | $ | 3,211 |
| Unrecognized benefits that, if recognized, would affect the Company's effective tax rate, subject to the valuation allowance* | | $ | 3,064 |
| | $ | 3,064 |
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____________ * Excluding interest and penalties |
X |
- Definition
Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.
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- Definition
Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 48
-Paragraph 21
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.
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