INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Components of Income from Operations before Provision for Income Taxes

The components of the income from operations before provision for income taxes for the Company’s domestic and foreign operations for the years ended December 31 are provided below:

	For the year ended December 31,
In thousands	2015		2014		2013
Domestic	$	461,394	$	343,180	$	285,395
Foreign	123,974		164,675		135,692
Income from operations before income taxes	$	585,368	$	507,855	$	421,087

Consolidated Provision for Income Taxes

The consolidated provision for income taxes included in the Statement of Income consisted of the following:

	For the year ended December 31,
In thousands	2015			2014			2013
Current taxes
Federal	$	141,245		$	108,782		$	70,459
State	16,072			17,091			13,173
Foreign	24,442			37,356			29,972
	181,759			163,229			113,604
Deferred taxes
Federal	9,606			2,287			11,146
State	770			1,404			1,375
Foreign	(5,395		)	(10,745		)	2,727
	4,981			(7,054		)	15,248
Total provision	$	186,740		$	156,175		$	128,852

Reconciliation of Income Tax Rate

A reconciliation of the United States federal statutory income tax rate to the effective income tax rate on operations for the years ended December 31 is provided below:

	For the year ended December 31,
In thousands	2015		2014		2013
U.S. federal statutory rate	35.0	%	35.0	%	35.0	%
State taxes	2.0	%	2.2	%	2.2	%
Tax reserves	(0.4	)%	0.3	%	—	%
Foreign	(2.1	)%	(4.2	)%	(3.9	)%
Research and development credit	(0.4	)%	(0.5	)%	(0.6	)%
Manufacturing deduction	(2.3	)%	(1.8	)%	(1.7	)%
Other, net	0.1	%	(0.2	)%	(0.4	)%
Effective rate	31.9	%	30.8	%	30.6	%

Components of Deferred Tax Assets and Liabilities

Components of deferred tax assets and liabilities were as follows:

	December 31,
In thousands	2015			2014
Deferred income tax assets:
Accrued expenses and reserves	$	39,426		$	34,167
Warranty reserve	24,544			21,123
Deferred compensation/employee benefits	24,950			21,759
Pension and postretirement obligations	15,507			26,736
Inventory	18,664			13,570
Net operating loss carry forwards	25,636			5,036
Tax credit carry forwards	959			1,078
Gross deferred income tax assets	149,686			123,469
Valuation allowance	12,623			1,818
Total deferred income tax assets	137,063			121,651
Deferred income tax liabilities:
Property, plant & equipment	34,518			29,998
Intangibles	167,108			157,781
Other	2,243			144
Total deferred income tax liabilities	203,869			187,923
Net deferred income tax liability	$	(66,806	)	$	(66,272	)

Liability for Income Taxes Associated with Uncertain Tax Positions

A reconciliation of the beginning and ending amount of the liability for income taxes associated with unrecognized tax benefits follows:

In thousands	2015			2014			2013
Gross liability for unrecognized tax benefits at beginning of year	$	12,596		$	10,531		$	11,267
Gross increases - unrecognized tax benefits in prior periods	—			30			55
Gross increases - current period unrecognized tax benefits	1,682			2,756			3,279
Gross decreases - unrecognized tax benefits in prior periods	—			(463		)	—
Gross decreases - audit settlement during year	(3,027		)	(77		)	(2,515		)
Gross decreases - expiration of audit statute of limitations	(694		)	(181		)	(1,555		)
Gross liability for unrecognized tax benefits at end of year	$	10,557		$	12,596		$	10,531