The GAAP effective tax rate was 45.2% for 2011, 5.5 percentage points higher than the 39.7% GAAP effective tax rate for 2010. The increase was due primarily to an increase in the proportion of pre-tax income subject to federal and state taxes 9, the inability to record a tax benefit in 2011 on non-operating losses attributable to the non-controlling interests’ economic ownership in the Consolidated Investment Products, and a larger impact in 2011 from the write-off of a deferred tax asset related to the vesting of RSUs at prices below their grant date fair value, partly offset by the reason noted above.Liquidity and Capital
Artio Global Investors Reports Fourth Quarter And Full Year 2011 Results; Announces Quarterly Dividend Of $0.06 Per Share
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