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Income Taxes
6 Months Ended
Jun. 30, 2016
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes
 
The Company’s effective tax rate was 32.0% and 33.6% for the quarters ended June 30, 2016 and 2015, respectively, and 32.5% and 35.1% for the six months ended June 30, 2016 and 2015, respectively. The difference in the Company’s effective tax rate for the quarter ended June 30, 2016 compared to the quarter ended June 30, 2015 was primarily due to a more favorable mix of earnings derived from countries with lower tax rates compared to that of the United States. The difference in the Company's effective tax rate for the six months ended June 30 2016 compared to the six months ended June 30, 2015 was primarily due to discrete tax benefits of $0.3 million related to stock option exercises and restricted stock vesting in the first quarter of 2016 and nonrecurring discrete taxes in the first quarter of 2015 relating to the divestiture of the Life Sciences Vital Fluids business.
The Company and its subsidiaries file a consolidated federal income tax return, as well as returns required by various state and foreign jurisdictions. In the normal course of business, the Company is subject to examination by taxing authorities, including such major jurisdictions as the United States, France, Germany, China, the United Kingdom and the Netherlands. With few exceptions, the Company is no longer subject to U.S. federal examinations for years before 2012, state and local examinations for years before 2011, and non-U.S. income tax examinations for years before 2003.
The Company’s effective tax rates in future periods could be affected by earnings being lower or higher than anticipated in countries where tax rates differ from the United States federal tax rate, the relative impact of permanent tax adjustments on higher or lower earnings from domestic operations, changes in net deferred tax asset valuation allowances, the impact of the completion of acquisitions or divestitures, changes in tax rates or tax laws and the completion of tax projects and audits.