INCOME TAXES	6 Months Ended
Jun. 30, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES During the three months ended June 30, 2016, the Company recognized income tax benefit of $67.1 million on income of $42.5 million, an effective tax rate of (157.9)% as compared to income tax expense of $29.8 million on income of $105.7 million, an effective tax rate of 28.2%, for the three months ended June 30, 2015. The lower effective tax rate for the three months ended June 30, 2016 was primarily due to the valuation allowance release for the German and Italian subsidiaries of the Company. The change in judgment regarding the realization of deferred tax assets in these jurisdictions was due to the anticipated disposition of the MHPS business pursuant to the SAPA, recent earnings history, and expected future income supporting the more likely than not assessment that the deferred tax assets will be realized. During the six months ended June 30, 2016, the Company recognized income tax benefit of $63.2 million on income of $24.4 million, an effective tax rate of (259.0)% as compared to income tax expense of $38.9 million on income of $113.1 million, an effective tax rate of 34.4%, for the six months ended June 30, 2015. The lower effective tax rate for the six months ended June 30, 2016 was primarily due to the valuation allowance release for the German and Italian subsidiaries of the Company. The change in judgment regarding the realization of deferred tax assets in these jurisdictions was due to the anticipated disposition of the MHPS business pursuant to the SAPA, recent earnings history, and expected future income supporting the more likely than not assessment that the deferred tax assets will be realized.

INCOME TAXES

6 Months Ended

Jun. 30, 2016

During the three months ended June 30, 2016, the Company recognized income tax benefit of $67.1 million on income of $42.5 million, an effective tax rate of (157.9)% as compared to income tax expense of $29.8 million on income of $105.7 million, an effective tax rate of 28.2%, for the three months ended June 30, 2015. The lower effective tax rate for the three months ended June 30, 2016 was primarily due to the valuation allowance release for the German and Italian subsidiaries of the Company. The change in judgment regarding the realization of deferred tax assets in these jurisdictions was due to the anticipated disposition of the MHPS business pursuant to the SAPA, recent earnings history, and expected future income supporting the more likely than not assessment that the deferred tax assets will be realized.

During the six months ended June 30, 2016, the Company recognized income tax benefit of $63.2 million on income of $24.4 million, an effective tax rate of (259.0)% as compared to income tax expense of $38.9 million on income of $113.1 million, an effective tax rate of 34.4%, for the six months ended June 30, 2015. The lower effective tax rate for the six months ended June 30, 2016 was primarily due to the valuation allowance release for the German and Italian subsidiaries of the Company. The change in judgment regarding the realization of deferred tax assets in these jurisdictions was due to the anticipated disposition of the MHPS business pursuant to the SAPA, recent earnings history, and expected future income supporting the more likely than not assessment that the deferred tax assets will be realized.