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Income Taxes
9 Months Ended
Sep. 28, 2013
Income Taxes [Abstract]  
Income Taxes
Note K – Income Taxes

The Company files income tax returns in the U.S. federal jurisdiction, and various states and foreign jurisdictions.  With few exceptions, the Company is no longer subject to U.S. federal, state and local income tax examinations by tax authorities for years before 2010 and non-U.S. income tax examinations by tax authorities prior to 2007.  During the first quarter of 2013, the Company was notified by the Internal Revenue Service that they will be examining the tax returns for Fiscal Years 2010 and 2011.  On September 18, 2013, the Internal Revenue Service completed its audit with no changes.
 
The total amount of unrecognized tax benefits could increase or decrease within the next twelve months for a number of reasons, including the closure of federal, state and foreign tax years by expiration of the statute of limitations and the recognition and measurement considerations under FASB Accounting Standards Codification (“ASC”) 740.  There have been no significant changes to the amount of unrecognized tax benefits during the three or nine month period ended September 28, 2013.  As a result of the completed IRS audit, the Company recorded a net tax benefit of $25,480 due to the release of accrued interest on unrecognized tax benefits resulting from timing differences.  This net tax benefit does not impact the effective tax rate, since the uncertainty that generated the tax benefit relates only to the period in which the items are deductible on a tax return.  Further, as a result of the expiration of the statute of limitations in the U.S. federal jurisdiction and various state jurisdictions, the Company recorded a net tax benefit of $82,863.  This net tax benefit resulted from the release of unrecognized tax benefits related to deferred foreign income and state income tax nexus issues, and the associated accrued interest. The Company believes that it is reasonably possible that the total amount of unrecognized tax benefits will not increase or decrease significantly over the next twelve months.