Note 8 - Income Taxes

9 Months Ended

Sep. 30, 2017

Notes to Financial Statements

Income Tax Disclosure [Text Block]

8.

Income Taxes

The effective tax rates for the

 

three

and

nine

months ended

September 30, 2017

was 

22.9%

and

18.7%,

respectively, compared to effective tax rates for the

three

and

nine

months ended

October 1, 2016

of (

1.2%

) and

15.6%,

respectively. The effective tax rates for the

2017

periods are lower than the U.S. statutory tax rate primarily due to income earned in lower tax jurisdictions, partially offset by a forecasted accrual for taxes on undistributed current year-earnings of certain non-US affiliates. The effective tax rate for the

2016

periods are lower than the U.S. statutory tax rate primarily due to income earned in lower tax jurisdictions and a

one

-time deduction with respect to the stock of

one

of the company’s affiliates partially offset by the impact of the impairment of goodwill for which

no

tax benefit was recorded.