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Income Taxes
3 Months Ended
Mar. 29, 2013
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes
The tax expense of $1.9 million in the first quarter 2013 was calculated by applying a rate of 22.0% against income before income taxes while the tax expense of $3.1 million in the first quarter 2012 was calculated by applying a rate of 33.4% against the income before income taxes in that period.
 
The differences between the statutory and effective rates in the first quarter of both years was due to the impact of percentage depletion, the production deduction, foreign source income and deductions, executive compensation, state and local taxes, discrete events and other factors. The research and experimentation credit for 2013 also reduced the effective tax rate in the first quarter 2013.
The Company recorded a discrete tax benefit of $0.6 million in the first quarter 2013 primarily for the research and experimentation credit for 2012. The research and experimentation credit was not recorded in 2012 as the U.S. Congress did not extend the credit for 2012 until the first quarter 2013 and accounting regulations require tax expense to be recorded based upon the laws that were in effect as of year end.
Discrete events totaled $0.1 million in the first quarter 2012.