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Income Taxes
6 Months Ended
Jun. 29, 2014
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes

The Company regularly reviews its tax positions in each significant taxing jurisdiction in the process of evaluating its unrecognized tax benefits. The Company makes adjustments to its unrecognized tax benefits when: (i) facts and circumstances regarding a tax position change, causing a change in management’s judgment regarding that tax position; (ii) a tax position is effectively settled with a tax authority at a differing amount; and/or (iii) the statute of limitations expires regarding a tax position.
At June 29, 2014, the Company had gross tax effected unrecognized tax benefits of $33.9 million, of which $28.6 million, if recognized, would affect the continuing operations effective tax rate. The remaining amount, if recognized, would affect discontinued operations.
The Company believes that it is reasonably possible that approximately $2.4 million of its uncertain tax positions at June 29, 2014, including accrued interest and penalties, and net of tax benefits, may be resolved over the next twelve months as a result of lapses in applicable statutes of limitations and potential settlements. Various tax years after 2006 remain open to examination by certain jurisdictions in which the Company has significant business operations, such as China, Finland, Germany, Italy, Netherlands, Singapore, the United Kingdom and the United States. The tax years under examination vary by jurisdiction.
During the first six months of fiscal years 2014 and 2013, the Company recorded net discrete income tax benefits of $4.0 million and $15.4 million, respectively, primarily for reversals of uncertain tax position reserves and resolution of other tax matters. The $15.4 million discrete income tax benefits for the six months ended June 30, 2013 included $9.4 million of reversals as a result of lapses in statutes of limitation during the first quarter of fiscal year 2013.