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INCOME TAXES
9 Months Ended
Sep. 30, 2015
Income Tax Disclosure [Abstract]  
INCOME TAXES
INCOME TAXES
The effective tax rate for continuing operations for the three and nine months ended September 30, 2015 was a tax provision of 24.4%, or $19.2, and 26.7%, or $57.6, respectively, compared to a tax provision of 31.2%, or $24.4, and 29.0%, or $70.2, respectively for the three and nine months ended September 30, 2014. The effective tax rate for the three months ended September 30, 2015 was favorably impacted primarily by a net tax benefit of $5.0 attributable to the closure of the federal tax examination in the U.S. The effective tax rate for the nine months ended September 30, 2015 was favorably impacted by a net tax benefit of $6.7, consisting of $7.4 of adjustments to the unrecognized tax positions due to the closure of the U.S. federal tax examination, a statute lapse in non-U.S. jurisdictions, and changes in tax rates for U.S. and certain international operations, partially offset by $0.7 of valuation allowance charges.
As of September 30, 2015, the amount of gross unrecognized tax benefits for continuing operations is $6.2, excluding interest, of which $5.8 would impact our effective tax rate, if recognized. The amount of gross unrecognized tax benefits at December 31, 2014 for continuing operations was $10.0, excluding interest, of which $9.6 would impact our effective tax rate, if recognized.
We recognize interest and penalties related to unrecognized tax benefits in income tax expense in the consolidated statements of income. We had recorded a liability for the payment of interest and penalties (gross) for continuing operations, of approximately $1.2 as of December 31, 2014. Activity for the nine months ended September 30, 2015 included a $0.1 increase for additional accruals, which were offset by a $0.6 decrease due to the closure of the federal tax examination in the U.S., along with a statute lapse in the non-U.S. jurisdictions, and foreign exchange, thus resulting in a liability for the payment of interest of $0.7 as of September 30, 2015.