INCOME TAXES	6 Months Ended
Jun. 30, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company’s effective tax rate (“ETR”) differs from the statutory tax rate predominantly due to the favorable impact of tax rulings and agreements in various foreign jurisdictions. The Company and the Dutch tax authorities previously agreed to the appropriate remuneration attributable to Dutch manufacturing activities through the year ending December 31, 2019. In addition, the Company negotiated a tax ruling effective from January 1, 2013, under which certain profits in Singapore are eligible for favorable taxation through the year ending December 31, 2027. For the three and six months ended June 30, 2016, the ETR was 17.2% and 25.5%, respectively, compared with 24.5% and 24.0% for the same periods in 2015. The ETR decrease for the three months ended June 30, 2016 was driven approximately 4% by tax credits from the repatriation of foreign earnings to the United States and a series of additional items which are insignificant both individually and in the aggregate. The ETR increase for the six months ended June 30, 2016 was driven approximately 6% by the Company’s Venezuelan subsidiary which incurred a remeasurement loss on its monetary assets and an impairment charge on its long-lived assets in 2016 (both of which provided no tax benefit), offset almost entirely by tax credits from the repatriation of foreign earnings to the United States. See Note 18 for additional information. The Company’s gross reserve for uncertain tax positions including penalties and interest, as of June 30, 2016 and December 31, 2015, was $185.2 million and $167.0 million, respectively. The Company believes that it has adequately provided for all uncertain tax positions. The Company is currently under examination by taxing authorities in various jurisdictions in which it operates, including its two largest businesses in the United States and China. It is reasonably possible that new issues may be raised by tax authorities and that these issues may require increases in the balance of the reserve for uncertain tax positions.

INCOME TAXES

6 Months Ended

Jun. 30, 2016

The Company’s effective tax rate (“ETR”) differs from the statutory tax rate predominantly due to the favorable impact of tax rulings and agreements in various foreign jurisdictions. The Company and the Dutch tax authorities previously agreed to the appropriate remuneration attributable to Dutch manufacturing activities through the year ending December 31, 2019. In addition, the Company negotiated a tax ruling effective from January 1, 2013, under which certain profits in Singapore are eligible for favorable taxation through the year ending December 31, 2027.

For the three and six months ended June 30, 2016, the ETR was 17.2% and 25.5%, respectively, compared with 24.5% and 24.0% for the same periods in 2015. The ETR decrease for the three months ended June 30, 2016 was driven approximately 4% by tax credits from the repatriation of foreign earnings to the United States and a series of additional items which are insignificant both individually and in the aggregate. The ETR increase for the six months ended June 30, 2016 was driven approximately 6% by the Company’s Venezuelan subsidiary which incurred a remeasurement loss on its monetary assets and an impairment charge on its long-lived assets in 2016 (both of which provided no tax benefit), offset almost entirely by tax credits from the repatriation of foreign earnings to the United States. See Note 18 for additional information.

The Company’s gross reserve for uncertain tax positions including penalties and interest, as of June 30, 2016 and December 31, 2015, was $185.2 million and $167.0 million, respectively. The Company believes that it has adequately provided for all uncertain tax positions. The Company is currently under examination by taxing authorities in various jurisdictions in which it operates, including its two largest businesses in the United States and China. It is reasonably possible that new issues may be raised by tax authorities and that these issues may require increases in the balance of the reserve for uncertain tax positions.