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Income Taxes

3 Months Ended

Mar. 31, 2014

Note 7 — Income Taxes

The effective tax rates for the three-month periods ended March 31, 2014 and 2013 were 27.4% and 24.9%, respectively. The increase is primarily attributable to projected year over year increases in profitability in the United States.

Income taxes have been provided based on the U.S. statutory rate of 35% and at the local statutory rate for each foreign jurisdiction adjusted for items that are allowed as deductions for federal and foreign income tax reporting purposes, but not for book purposes. The primary differences between the statutory rate and our effective rate from continuing operations are as follows:


	Three Months Ended
	March 31,
	2014		2013

Statutory rate	35.0	%	35.0	%
Foreign provision	(8.5)		(10.7)
Other	0.9		0.6
Effective rate	27.4	%	24.9	%

- 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.

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