INCOME TAX UNCERTAINTIES

6 Months Ended

Jun. 30, 2012

INCOME TAX UNCERTAINTIES

INCOME TAX UNCERTAINTIES

NOTE 12 — INCOME TAX UNCERTAINTIES

The Company had approximately $8.9 and $9.1 million recorded for income tax uncertainties as of June 30, 2012 and December 31, 2011, respectively.  The $0.2 million change in income tax uncertainties was primarily the result of currency changes.  The amount, if recognized, that would impact the effective tax rate is $8.3 and $8.5 million, respectively.  The Company estimates that it is reasonably possible that the liability for uncertain tax positions will decrease by no more than $5.0 million in the next twelve months from the resolution of various uncertain positions as a result of the completion of tax audits, litigation and the expiration of the statute of limitations in various jurisdictions.