Income Taxes	6 Months Ended
Jun. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company merged certain of its Swiss operating legal entities during the second quarter of 2017 (the "merger"). Certain of these entities included businesses with deferred tax assets that were offset by valuation allowances. As a result of the merger, the Company reevaluated the valuation allowances and deferred tax assets related to these businesses and determined such allowances were no longer required as the merged entities would more likely than not utilize previously unbenefitted net operating losses that would have otherwise expired. In addition, certain deferred tax assets were adjusted as a result of higher income tax rates. The impacts of these adjustments are treated as discrete items in the second quarter of 2017 resulting in reductions in tax expense of $5,872 and $461, respectively, in the first half of 2017. The Company's effective tax rate for the first half of 2017 was 21.1% compared with 25.9% in the first half of 2016 and 25.7% for the full year 2016. The decrease in the first half of 2017 effective tax rate from the full year 2016 rate is primarily due to the adjustment of certain valuation reserves and other benefits resulting from the merger of legal entities in Switzerland, partially offset by the expiration of certain tax holidays, the decrease in the excess tax benefit on stock awards and the projected change in the mix of earnings attributable to higher-taxing jurisdictions. The Aerospace and Industrial segments were previously awarded international tax holidays. All significant tax holidays for which the Company currently receives benefit are expected to expire in the fourth quarter of 2017.

Income Taxes

The Company merged certain of its Swiss operating legal entities during the second quarter of 2017 (the "merger"). Certain of these entities included businesses with deferred tax assets that were offset by valuation allowances. As a result of the merger, the Company reevaluated the valuation allowances and deferred tax assets related to these businesses and determined such allowances were no longer required as the merged entities would more likely than not utilize previously unbenefitted net operating losses that would have otherwise expired. In addition, certain deferred tax assets were adjusted as a result of higher income tax rates. The impacts of these adjustments are treated as discrete items in the second quarter of 2017 resulting in reductions in tax expense of $5,872 and $461, respectively, in the first half of 2017.

The Company's effective tax rate for the first half of 2017 was 21.1% compared with 25.9% in the first half of 2016 and 25.7% for the full year 2016. The decrease in the first half of 2017 effective tax rate from the full year 2016 rate is primarily due to the adjustment of certain valuation reserves and other benefits resulting from the merger of legal entities in Switzerland, partially offset by the expiration of certain tax holidays, the decrease in the excess tax benefit on stock awards and the projected change in the mix of earnings attributable to higher-taxing jurisdictions.

The Aerospace and Industrial segments were previously awarded international tax holidays. All significant tax holidays for which the Company currently receives benefit are expected to expire in the fourth quarter of 2017.