INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2017

INCOME TAXES

Schedule of income before income taxes

Years Ended December 31,	2017		2016		2015
United States	$	36,139	$	55,278	$	73,492
International		258,686		225,219		221,079
Total	$	294,825	$	280,497	$	294,571

Components of provision (benefit) for income taxes

Years Ended December 31,	2017		2016		2015
Current:
U.S. Federal	$	(342)	$	24,045	$	19,749
State/Local		230		449		82
International		72,670		61,511		82,586
	$	72,558	$	86,005	$	102,417
Deferred:
U.S. Federal/State	$	2,570	$	(4,002)	$	1,605
International		(332)		(7,110)		(8,746)
	$	2,238	$	(11,112)	$	(7,141)
Total	$	74,796	$	74,893	$	95,276

Schedule of reconciliation of actual income tax provision and the tax provision computed by applying statutory federal income tax rate

Years Ended December 31,	2017			2016			2015
Income tax at statutory rate	$	103,189		$	98,174		$	103,100
State income (benefits) taxes, net of federal (tax) benefit		(594)			(980)			(1,254)
Investment incentives		(1,900)			(6,413)			(3,082)
Tax resolutions		(5,188)			(7,205)			2,375
Excess tax benefits from equity compensation		(10,383)			—			—
Deferred benefits from tax rate changes		(5,055)			—			—
U.S. tax reform - transition tax		31,575			—			—
Results of forward contract		(23,883)			—			—
Provision for distribution of current foreign earnings		2,843			3,494			2,031
Rate differential on earnings of foreign operations		(17,318)			(12,037)			(5,688)
Other items, net		1,510			(140)			(2,206)
Actual income tax provision	$	74,796		$	74,893		$	95,276
Effective income tax rate		25.4	%		26.7	%		32.3	%

Components of significant deferred tax assets and liabilities

	2017		2016
Deferred Tax Assets:
Pension liabilities	$	19,393	$	27,087
Stock compensation		9,101		18,943
Foreign tax credit carryforward		8,320		10,813
Net operating loss carryforwards		10,803		5,150
U.S. state tax credits		9,384		8,103
Vacation		4,748		4,783
Workers compensation		4,534		3,575
Other		4,660		12,651
Total gross deferred tax assets		70,943		91,105
Less valuation allowance		(5,414)		(4,070)
Net deferred tax assets		65,529		87,035
Deferred Tax Liabilities:
Depreciation, amortization and leases		25,062		39,189
Acquisition related intangibles		27,866		30,417
Total gross deferred tax liabilities		52,928		69,606
Net deferred tax assets	$	12,601	$	17,429

Schedule of reconciliation of the beginning and ending amount of income tax uncertainties

	2017		2016		2015
Balance at January 1	$	6,356	$	7,934	$	6,408
Increases based on tax positions for the current year		370		270		255
Increases based on tax positions of prior years		1,562		1,283		2,684
Decreases based on tax positions of prior years		—		(1,472)		(518)
Settlements		(4,874)		(1,444)		(207)
Lapse of statute of limitations		(334)		(215)		(688)
Balance at December 31	$	3,080	$	6,356	$	7,934

Summary of major tax jurisdictions the Company files in, with the years still subject to income tax examinations

	Tax Years
Major Tax	Subject to
Jurisdiction	Examination
United States — Federal	2014-2017
United States — State	2009-2017
France	2015-2017
Germany	2015-2017
Italy	2013-2017
China	2008-2017