SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2012

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Components of inventories

	March 31, 2012		December 31, 2011
Raw materials and purchased parts	$	216,182	$	202,953
Work-in-process		30,342		28,053
Finished goods and manufactured goods		246,138		212,312
Subtotal		492,662		443,318
Less: LIFO reserve		52,062		49,536
	$	440,600	$	393,782

Summary of earnings before income taxes and equity in earnings of nonconsolidated subsidiaries

	2012		2011
United States	$	62,695	$	26,117
Foreign		15,971		13,090
	$	78,666	$	39,207

Compensation expense (included in selling, general and administrative expenses) and associated income tax benefits related to stock option

	2012		2011
Compensation expense	$	1,245	$	1,252
Income tax benefits		479		482

Schedule of Trading Securities measured at fair value

			Fair Value Measurement Using:
	Carrying Value March 31, 2012		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Trading Securities	$	21,491	$	21,491	$	—	$	—

			Fair Value Measurement Using:
	Carrying Value December 31, 2011		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Trading Securities	$	19,152	$	19,152	$	—	$	—

Components of accumulated other comprehensive income (loss)

	March 31, 2012			December 31, 2011
Foreign currency translation adjustment	$	40,881		$	16,070
Actuarial gain in defined benefit pension plan		53,188			51,317
Loss on cash flow hedge		(3,235	)		(3,335	)
	$	90,834		$	64,052