Income Taxes	9 Months Ended
Sep. 30, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The effective tax rate for income from continuing operations was 26.0 percent and 26.3 percent for the third quarter and first nine months of 2017, respectively, compared to 27.8 percent and 28.0 percent for the third quarter and first nine months of 2016, respectively. The Company recorded an income tax provision of $41.5 million in the second quarter of 2017 related to the divestiture of Valspar's North American industrial wood coatings business, which is reported as a discontinued operation. See Note 3. Excluding the impact of share-based payments, the effective tax rate was 27.8 percent and 31.0 percent for the third quarter and first nine months of 2017, respectively, compared to 29.9 percent and 31.2 percent for the third quarter and first nine months of 2016, respectively. As of September 30, 2017, the Company's deferred income tax liability related to the preliminary purchase price accounting for Valspar was approximately $2.6 billion. This amount is preliminary and is subject to measurement period adjustments. Included in this amount are third quarter measurement period adjustments for $30.5 million valuation allowance related to foreign tax credits and $48.0 million of estimated tax payable on retained earnings of certain foreign subsidiaries expected to be repatriated by the Company. At December 31, 2016, the Company had $32.8 million in unrecognized tax benefits, the recognition of which would have an effect of $27.7 million on the effective tax rate. Included in the balance of unrecognized tax benefits at December 31, 2016 was $2.6 million related to tax positions for which it is reasonably possible that the total amounts could significantly change during the next twelve months. This amount represents a decrease in unrecognized tax benefits comprised primarily of items related to federal audits of partnership investments and expiring statutes in federal, foreign and state jurisdictions. In the second quarter of 2017, the Company acquired $19.9 million of unrecognized tax benefits as a part of the preliminary opening balance sheet of Valspar and is subject to measurement period adjustments. During the third quarter of 2017, the Company recorded an additional $4.6 million of unrecognized tax benefits on the opening balance sheet of Valspar and is subject to measurement period adjustments. The Company classifies all income tax related interest and penalties as income tax expense. At December 31, 2016, the Company had accrued $9.3 million for the potential payment of income tax interest and penalties. There were no significant changes to any of the balances of unrecognized tax benefits at December 31, 2016 during the first nine months of 2017 with the exception of the unrecognized tax benefits recorded as a part of the acquisition of Valspar. The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction, and various state and foreign jurisdictions. The IRS is currently auditing refund claims that the Company filed for the 2010, 2011 and 2012 tax years and the 2014 and 2015 tax years of a Valspar subsidiary. During the second quarter of 2017, the IRS informed the Company that it will commence an audit of the 2014 and 2015 tax years by the end of 2017. As of September 30, 2017, the federal statute of limitations has not expired for the 2013, 2014 and 2015 tax years. As of September 30, 2017, the Company is subject to non-U.S. income tax examinations for the tax years of 2010 through 2016. In addition, the Company is subject to state and local income tax examinations for the tax years 2005 through 2016.

INCOME TAXES

The effective tax rate for income from continuing operations was 26.0 percent and 26.3 percent for the third quarter and first nine months of 2017, respectively, compared to 27.8 percent and 28.0 percent for the third quarter and first nine months of 2016, respectively. The Company recorded an income tax provision of $41.5 million in the second quarter of 2017 related to the divestiture of Valspar's North American industrial wood coatings business, which is reported as a discontinued operation. See Note 3. Excluding the impact of share-based payments, the effective tax rate was 27.8 percent and 31.0 percent for the third quarter and first nine months of 2017, respectively, compared to 29.9 percent and 31.2 percent for the third quarter and first nine months of 2016, respectively.

As of September 30, 2017, the Company's deferred income tax liability related to the preliminary purchase price accounting for Valspar was approximately $2.6 billion. This amount is preliminary and is subject to measurement period adjustments. Included in this amount are third quarter measurement period adjustments for $30.5 million valuation allowance related to foreign tax credits and $48.0 million of estimated tax payable on retained earnings of certain foreign subsidiaries expected to be repatriated by the Company.

At December 31, 2016, the Company had $32.8 million in unrecognized tax benefits, the recognition of which would have an effect of $27.7 million on the effective tax rate. Included in the balance of unrecognized tax benefits at December 31, 2016 was $2.6 million related to tax positions for which it is reasonably possible that the total amounts could significantly change during the next twelve months. This amount represents a decrease in unrecognized tax benefits comprised primarily of items related to federal audits of partnership investments and expiring statutes in federal, foreign and state jurisdictions. In the second quarter of 2017, the Company acquired $19.9 million of unrecognized tax benefits as a part of the preliminary opening balance sheet of Valspar and is subject to measurement period adjustments. During the third quarter of 2017, the Company recorded an additional $4.6 million of unrecognized tax benefits on the opening balance sheet of Valspar and is subject to measurement period adjustments.

The Company classifies all income tax related interest and penalties as income tax expense. At December 31, 2016, the Company had accrued $9.3 million for the potential payment of income tax interest and penalties.

There were no significant changes to any of the balances of unrecognized tax benefits at December 31, 2016 during the first nine months of 2017 with the exception of the unrecognized tax benefits recorded as a part of the acquisition of Valspar.

The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction, and various state and foreign jurisdictions. The IRS is currently auditing refund claims that the Company filed for the 2010, 2011 and 2012 tax years and the 2014 and 2015 tax years of a Valspar subsidiary. During the second quarter of 2017, the IRS informed the Company that it will commence an audit of the 2014 and 2015 tax years by the end of 2017. As of September 30, 2017, the federal statute of limitations has not expired for the 2013, 2014 and 2015 tax years.

As of September 30, 2017, the Company is subject to non-U.S. income tax examinations for the tax years of 2010 through 2016. In addition, the Company is subject to state and local income tax examinations for the tax years 2005 through 2016.