Taxes on income from continuing operations

9 Months Ended

Sep. 30, 2012

Taxes on income from continuing operations

Note 11 — Taxes on income from continuing operations

	Three Months Ended						Nine Months Ended
	September 30, 2012			September 25, 2011			September 30, 2012			September 25, 2011
Effective income tax rate		22.8	%		23.5	%		(1.4	)%		23.0	%

The effective income tax rate for the three months and nine months ended September 30, 2012 was 22.8% and (1.4)%, respectively, compared to 23.5% and 23.0% for the three months and nine months ended September 25, 2011, respectively. The decrease in the effective tax rate for the nine months ended September 30, 2012 was impacted by the Company’s ability to deduct only $45 million of the $332 million goodwill impairment charge recorded in the first quarter of 2012. Accordingly, the reduction in the tax rate for the nine months ended September 30, 2012 reflects the Company’s ability to realize only a limited tax benefit related to this charge.