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Income Taxes
6 Months Ended
Jul. 02, 2011
Income Taxes [Abstract]  
Income Taxes
9. Income Taxes
The estimated effective income tax rates recorded for the quarters ended July 2, 2011 and July 3, 2010, were based upon management’s best estimate of the effective tax rate for the entire year.
The Company and its subsidiaries file a consolidated federal income tax return in the United States as well as consolidated and separate income tax returns in various state and foreign jurisdictions. In the normal course of business, the Company is subject to examination by taxing authorities in all of these jurisdictions. With the exception of certain foreign jurisdictions, the Company is no longer subject to income tax examinations for the tax years prior to 2007. Additionally, the Company has indemnification agreements with the sellers of the Colfax, Kilian and Hay Hall entities, which provide for reimbursement to the Company for payments made in satisfaction of tax liabilities relating to pre-acquisition periods.