Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Schedule Of Earnings Before Provision For Income Taxes And Discontinued Operations [Table Text Block]

Income taxes have been based on the following components of “Earnings before provision for income taxes and discontinued operations” in the Consolidated Statements of Earnings:



	Years Ended December 31,
	2012		2011		2010
Domestic	$	700,745	$	577,142	$	434,349
Foreign	436,826		433,120		378,773
	$	1,137,571	$	1,010,262	$	813,122

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

Income tax expense (benefit) relating to continuing operations for the years ended December 31, 2012, 2011, and 2010 is comprised of the following:



	Years Ended December 31,
	2012			2011			2010
Current:
U.S. Federal	$	219,850		$	159,250		$	31,055
State and local	(304		)	(12,058		)	6,357
Foreign	96,713			98,919			90,780
Total current	316,259			246,111			128,192
Deferred:
U.S. Federal	$	19,475		$	850		$	89,172
State and local	(2,584		)	(2,535		)	99
Foreign	(28,698		)	(7,350		)	(23,838		)
Total deferred	(11,807		)	(9,035		)	65,433
Total expense	$	304,452		$	237,076		$	193,625

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

Differences between the effective income tax rate and the U.S. federal income statutory rate are as follows:



	Years Ended December 31,
	2012		2011		2010
U.S. Federal income tax rate	35.0	%	35.0	%	35.0	%
State and local taxes, net of Federal income tax benefit	1.1		1.1		1.4
Foreign operations tax effect	(7.2	)	(6.9	)	(7.5	)
R&E tax credits (1)	—		(0.4	)	(0.4	)
Domestic manufacturing deduction	(1.8	)	(1.6	)	(0.8	)
Foreign tax credits	0.2		0.3		(0.6	)
Branch losses	—		—		(0.6	)
Release of valuation allowance	—		(1.0	)	—
Resolution of tax contingencies	(1.4	)	(4.0	)	(4.7	)
Other, principally non-tax deductible items	0.9		1.0		2.0
Effective rate from continuing operations	26.8	%	23.5	%	23.8	%

(1)

On January 2, 2013, the American Taxpayer Relief Act of 2012 was signed into law, and this legislation retroactively extended the R&E tax credit for two years, from January 1, 2012 through December 31, 2013. The Corporation expects its income tax expense for the first quarter of 2013 to include the entire benefit of the R&E tax credit attributable to 2012, which is estimated to be approximately $4.6 million.

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The tax effects of temporary differences that give rise to future deferred tax assets and liabilities are as follows:



	December 31, 2012			December 31, 2011
Deferred Tax Assets:
Accrued compensation, principally postretirement and other employee benefits	$	197,253		$	168,350
Accrued expenses, principally for state income taxes, interest, and warranty	46,739			54,913
Net operating loss and other carryforwards	107,959			24,409
Inventories, principally due to reserves for financial reporting purposes and capitalization for tax purposes	23,239			18,192
Accounts receivable, principally due to allowance for doubtful accounts	5,479			5,039
Accrued insurance	5,002			3,947
Long-term liabilities, principally warranty, environmental, and exit costs	2,781			796
Other assets	9,235			13,335
Total gross deferred tax assets	397,687			288,981
Valuation allowance	(18,887		)	(20,855		)
Total deferred tax assets	$	378,800		$	268,126

Deferred Tax Liabilities:
Intangible assets, principally due to different tax and financial reporting bases and amortization lives	$	(719,904	)	$	(512,585	)
Plant and equipment, principally due to differences in depreciation	(65,480		)	(57,245		)
Accounts receivable	(5,725		)	(6,442		)
Total gross deferred tax liabilities	(791,109		)	(576,272		)
Net deferred tax liability	$	(412,309	)	$	(308,146	)

Classified as follows in the consolidated balance sheets:
Current deferred tax asset	$	49,935		$	40,376
Non-current deferred tax liability	(462,244		)	(348,522		)
	$	(412,309	)	$	(308,146	)

Schedule Of Unrecognized Tax Benefits [Table Text Block]

The following table is a reconciliation of the beginning and ending balances of the Company’s unrecognized tax benefits:



	Continuing				Discontinued			Total
Unrecognized tax benefits at January 1, 2010	$	184,896			$	91,670		$	276,566
Additions based on tax positions related to the current year	22,324				242			22,566
Additions for tax positions of prior years	15,183				75			15,258
Reductions for tax positions of prior years	(39,824		)		(6,775		)	(46,599		)
Settlements	(8,152		)		(17,804		)	(25,956		)
Lapse of statutes	(7,521		)		(133		)	(7,654		)
Unrecognized tax benefits at December 31, 2010	166,906				67,275			234,181
Additions based on tax positions related to the current year	10,835				986			11,821
Additions for tax positions of prior years	14,636				1,971			16,607
Reductions for tax positions of prior years	(40,563		)		(12,302		)	(52,865		)
Settlements	(6,673		)		(3,469		)	(10,142		)
Lapse of statutes	(6,197		)		(216		)	(6,413		)
Unrecognized tax benefits at December 31, 2011	138,944				54,245			193,189
Additions based on tax positions related to the current year	10,188				26			10,214
Additions for tax positions of prior years	4,128				3,470			7,598
Reductions for tax positions of prior years	(14,257		)		(25		)	(14,282		)
Settlements	(418		)		(85		)	(503		)
Lapse of statutes	(12,550		)		(3,429		)	(15,979		)
Unrecognized tax benefits at December 31, 2012	$	126,035		(A)	$	54,202		$	180,237