Income Taxes

3 Months Ended

Mar. 31, 2013

Income Taxes Disclosure [Abstract]

Income Taxes

10) INCOME TAXES

The provision for income taxes represents federal, state and local, and foreign income taxes on earnings from continuing operations before income taxes and equity in loss of investee companies.

The provision for income taxes for the three months ended March 31, 2013 increased to $234million from$201million for the same prior-year period, driven by the increase in earnings from continuing operations before income taxes. The Company's effective income tax rate decreased slightly to33.2% for the three months ended March 31, 2013 versus33.6%for the comparable prior-year period.

The Company is currently under examination by the IRS for the years 2008, 2009 and 2010. The IRS has completed its field audit and the Company expects to settle the audit in 2013. In 2013 the Company also expects to settle an audit in a foreign jurisdiction related to a previously disposed business that is accounted for as a discontinued operation. In addition, various tax years are currently under examination by state and local, and other foreign tax authorities. With respect to open tax years in all jurisdictions, the Company currently believes that it is reasonably possible that the reserve for uncertain tax positions will decrease within the next twelve months; however, as it is difficult to predict the final outcome of any particular tax matter, an estimate of the impact to the reserve for uncertain tax positions cannot currently be determined.