Income Taxes

9 Months Ended

Sep. 30, 2012

Income Taxes

Note 12. Income Taxes

The following table summarizes the Company’s income tax provision and effective income tax rate:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
Income before income taxes	$	86,565		$	103,820		$	268,171		$	281,217
Provision for income taxes	$	22,194		$	29,543		$	73,082		$	79,345
Effective income tax rate		25.6	%		28.5	%		27.3	%		28.2	%

The decrease in the effective tax rate for the three-month period ended September 30, 2012 when compared to the same three-month period of 2011 is primarily due to the favorable impact of provision to return adjustments and a lower proportion of U.S. profits, which are generally taxed at a higher rate than the Company’s foreign earnings. These items were partially offset by an increase in non-deductible expenses.

The decrease in the effective tax rate for the nine-month period ended September 30, 2012 when compared to the same nine-month period of 2011 is primarily due to the favorable impact of provision to return adjustments and a non-U.S. tax law change.