INCOME TAXES (Table)

12 Months Ended

Dec. 31, 2017

Schedule Of Income Before Income Tax, Domestic and Foreign [Table Text Block]



(In thousands)	2017		2016		2015
Domestic	$	179,006	$	154,571	$	135,112
Foreign	120,613		113,390		140,082
	$	299,619	$	267,961	$	275,194

Schedule Of Provision For Income Taxes [Table Text Block]



(In thousands)	2017			2016			2015
Current:
Federal	$	54,963		$	45,523		$	(6,741	)
State	2,648			8,002			6,175
Foreign	23,162			20,861			27,134
Total current	80,773			74,386			26,568

Deferred:
Federal	2,595			4,267			49,060
State	4,282			73			7,390
Foreign	(2,922		)	(147		)	(72		)
Total deferred	3,955			4,193			56,378
Provision for income taxes	$	84,728		$	78,579		$	82,946

Schedule Of Effective Income Tax Rate Reconciliation [Table Text Block]



	2017		2016		2015
U.S. federal statutory tax rate	35.0	%	35.0	%	35.0	%
Add (deduct):
State and local taxes, net of federal benefit	1.8		1.1		4.3
R&D tax credits	(1.3	)	(0.9	)	(1.3	)
Foreign earnings ⁽¹⁾	(6.0	)	(5.8	)	(6.2	)
Stock compensation - excess tax benefits	(2.6	)	—		—
Impacts related to the Tax Act	3.4		—		—
All other, net	(2.0	)	(0.1	)	(1.7	)
Effective tax rate	28.3	%	29.3	%	30.1	%

⁽¹⁾ Foreign earnings primarily include the net impact of differences between local statutory rates and the U.S. Federal statutory rate, the cost of repatriating foreign earnings, and the impact of changes to foreign valuation allowances.

Schedule Of Deferred Tax Assets And Liabilities [Table Text Block]

The components of the Corporation’s deferred tax assets and liabilities as of December 31 are as follows:



(In thousands)	2017		2016
Deferred tax assets:
Pension plans	$	18,903	$	45,568
Environmental reserves	7,109		9,871
Inventories	15,116		21,758
Postretirement/postemployment benefits	8,241		13,542
Incentive compensation	7,721		9,425
Net operating loss	10,908		10,345
Capital loss carryover	7,047		11,352
Other	28,775		39,977
Total deferred tax assets	103,820		161,838
Deferred tax liabilities:
Depreciation	19,586		25,963
Goodwill amortization	67,779		97,667
Other intangible amortization	38,252		51,712
Other	12,636		16,225
Total deferred tax liabilities	138,253		191,567
Valuation allowance	12,322		17,776
Net deferred tax liabilities	$	46,755	$	47,505

Deferred tax assets and liabilities are reflected on the Corporation’s consolidated balance sheet as of December 31 as follows:



(In thousands)	2017		2016
Net noncurrent deferred tax assets	2,605		2,217
Net noncurrent deferred tax liabilities	49,360		49,722
Net deferred tax liabilities	$	46,755	$	47,505

Summary Of Unrecognized Tax Benefits [Table Text Block]



(In thousands)	2017			2016			2015
Balance as of January 1,	$	11,454		$	12,414		$	11,560
Additions for tax positions of prior periods	1,069			32			359
Reductions for tax positions of prior periods	(194		)	(1,679		)	—
Additions for tax positions related to the current year	1,273			789			2,026
Settlements	(428		)	(102		)	(1,414		)
Foreign currency translation	—			—			(117		)
Balance as of December 31,	$	13,174		$	11,454		$	12,414

Summary Of Open Tax Years [Table Text Block]



United States (Federal)	2014	-	present
United States (Various states)	2006	-	present
United Kingdom	2010	-	present
Canada	2011	-	present