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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of the components of income before income taxes and the provision for income taxes

	Year Ended December 31,
	2012			2011			2010

Income before income taxes:
United States	$	145,856		$	176,739		$	225,334
Foreign	632,985			540,013			438,354
	$	778,841		$	716,752		$	663,688

Current tax provision:
United States	$	54,649		$	44,769		$	77,590
Foreign	163,060			128,608			79,607
	$	217,709		$	173,377		$	157,197

Deferred tax provision (benefit):
United States	$	7,749		$	17,733		$	3,020
Foreign	(6,125		)	(3,200		)	1,058
	1,624			14,533			4,078
Total provision for income taxes	$	219,333		$	187,910		$	161,275

Schedule of differences between the U.S. statutory federal tax rate and the Company's effective income tax rate

	Year Ended December 31,
	2012		2011		2010

U.S. statutory federal tax rate	35.0	%	35.0	%	35.0	%
State and local taxes	.6		.4		.8
Foreign earnings and dividends taxed at different rates	(7.9	)	(8.2	)	(11.5	)
Valuation allowance	(.2	)	(.2	)	(1.0	)
Tax impact of the delay in American Taxpayer Relief Act	1.5		—		—
Other	(.8	)	(.8	)	1.0
Effective tax rate	28.2	%	26.2	%	24.3	%

Schedule of deferred tax assets and liabilities, excluding the valuation allowance

	December 31,
	2012		2011
Deferred tax assets relating to:
Accrued liabilities and reserves	$	21,841	$	16,363
Operating loss and tax credit carryforwards	17,967		18,270
Pensions, net	56,584		48,105
Inventory reserves	18,615		17,173
Employee benefits	30,298		29,760
	$	145,305	$	129,671

Deferred tax liabilities relating to:
Goodwill	$	90,506	$	74,013
Depreciation	6,982		7,086
Contingent consideration	6,591		6,591
	$	104,079	$	87,690

Schedule of reconciliation of gross amounts of unrecognized tax benefits excluding interest and penalties

	2012			2011			2010
Unrecognized tax benefits as of January 1	$	20,215		$	22,560		$	35,528
Gross increases and gross decreases for tax positions in prior periods	11,268			(64		)	2,036
Gross increases - current period tax position	1,483			2,278			2,968
Settlements	(3,127		)	(451		)	(11,880		)
Lapse of statute of limitations	(3,458		)	(4,108		)	(6,092		)
Unrecognized tax benefits as of December 31	$	26,381		$	20,215		$	22,560

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

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