INCOME TAXES	6 Months Ended
Jun. 30, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES For the three months ended June 30, 2016 and 2015, the Company recognized income tax expense of $17.5 and $23.5 with an effective tax rate of 35.0% and 14.3%, respectively. For the six months ended June 30, 2016 and 2015, the Company recognized income tax expense of $29.2 and $41.6 with an effective tax rate of 29.4% and 18.8%, respectively. The higher effective tax rate in 2016 compared to 2015 was due to tax benefits recorded in the second quarter of 2015 for the reduction in a deferred tax liability on foreign earnings which are not considered indefinitely reinvested, releases of valuation allowances and uncertain tax positions. The Company continues to benefit from earnings eligible for a tax holiday in South Korea, as well as a larger mix of earnings in non-U.S. jurisdictions with favorable tax rates. The Company operates in various tax jurisdictions and is subject to examination by tax authorities in these jurisdictions. The Company is currently under examination in several jurisdictions including Canada, Germany, Hong Kong, Italy, Mexico, South Korea, the U.S. and Venezuela. The estimated tax liability calculation for unrecognized tax benefits includes dealing with uncertainties in the application of complex tax laws and regulations in various tax jurisdictions. Due to the complexity of some uncertainties, the ultimate resolution may result in a payment that is materially different from the current estimate of the unrecognized tax benefit. Over the next 12 months, the net amount of the tax liability for unrecognized tax benefits in foreign and domestic jurisdictions could change by approximately $18 due to changes in audit status, expiration of statutes of limitations and other events. In addition, the settlement of any future examinations relating to the 2011 and prior tax years could result in changes in amounts attributable to the Company under its existing Tax Matters Agreement with Exelis and Xylem.

INCOME TAXES

6 Months Ended

Jun. 30, 2016

For the three months ended June 30, 2016 and 2015, the Company recognized income tax expense of $17.5 and $23.5 with an effective tax rate of 35.0% and 14.3%, respectively. For the six months ended June 30, 2016 and 2015, the Company recognized income tax expense of $29.2 and $41.6 with an effective tax rate of 29.4% and 18.8%, respectively. The higher effective tax rate in 2016 compared to 2015 was due to tax benefits recorded in the second quarter of 2015 for the reduction in a deferred tax liability on foreign earnings which are not considered indefinitely reinvested, releases of valuation allowances and uncertain tax positions. The Company continues to benefit from earnings eligible for a tax holiday in South Korea, as well as a larger mix of earnings in non-U.S. jurisdictions with favorable tax rates.

The Company operates in various tax jurisdictions and is subject to examination by tax authorities in these jurisdictions. The Company is currently under examination in several jurisdictions including Canada, Germany, Hong Kong, Italy, Mexico, South Korea, the U.S. and Venezuela. The estimated tax liability calculation for unrecognized tax benefits includes dealing with uncertainties in the application of complex tax laws and regulations in various tax jurisdictions. Due to the complexity of some uncertainties, the ultimate resolution may result in a payment that is materially different from the current estimate of the unrecognized tax benefit. Over the next 12 months, the net amount of the tax liability for unrecognized tax benefits in foreign and domestic jurisdictions could change by approximately $18 due to changes in audit status, expiration of statutes of limitations and other events. In addition, the settlement of any future examinations relating to the 2011 and prior tax years could result in changes in amounts attributable to the Company under its existing Tax Matters Agreement with Exelis and Xylem.