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Income Taxes
6 Months Ended
Jun. 30, 2016
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes:
The effective income tax rate for the three-month and six-month periods ended June 30, 2016 was 22.4% and 14.8%, respectively, compared to 25.2% and 25.4% for the three-month and six-month periods ended June 30, 2015, respectively. The Company’s effective income tax rate fluctuates based on, among other factors, its level and location of income. The difference between the U.S. federal statutory income tax rate and our effective income tax rate for the 2016 and 2015 periods is primarily due to the impact of earnings from outside the U.S. The decrease in the effective tax rate for the six-month period ended June 30, 2016 compared to the same period in 2015 is primarily driven by income of $122.3 million from the sales of businesses with associated tax expense of $6.7 million. Our effective income tax rate for the three-month and six-month periods ended June 30, 2015 was affected by a discrete tax benefit of $1.0 million related mainly to prior year uncertain tax position adjustments associated with lapses in statutes of limitations. Additionally, our effective income tax rate for the six-month period ended June 30, 2015 was affected by $3.4 million related mainly to U.S. tax provision to return adjustments.