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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2018

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		2018				2017				2016
Domestic		$	145,096			$	140,325			$	276,218
Foreign		222,486				211,738				136,619
Income from operations before income taxes		$	367,582			$	352,063			$	412,837

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		2018				2017				2016
Current taxes
Federal		$	6,940			$	86,157			$	72,317
State		5,771				3,644				9,953
Foreign		68,467				67,395				27,391
		81,178				157,196				109,661
Deferred taxes
Federal		4,689				(22,863		)		11,013
State		1,263				(1,024		)		1,953
Foreign		(11,251		)		(43,536		)		(23,194		)
		(5,299		)		(67,423		)		(10,228		)
Total provision		$	75,879			$	89,773			$	99,433

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		2018			2017			2016
U.S. federal statutory rate		21.0	%		35.0	%		35.0	%
State taxes		1.6			0.4			2.1
Foreign		0.7			(8.3	)		(4.3	)
Research and development credit		(1.1	)		(0.8	)		(1.0	)
Manufacturing deduction		—			(1.1	)		(1.8	)
France tax rate change		—			(6.5	)		(6.5	)
U.S. tax rate change		(0.6	)		(7.9	)		—
U.S. tax reform (benefit) provision		(1.4	)		15.6			—
Transaction costs related to acquisitions		—			—			1.5
Other, net		0.4			(0.9	)		(0.9	)
Effective rate		20.6	%		25.5	%		24.1	%

Components of Deferred Tax Assets and Liabilities

Components of deferred tax assets and liabilities were as follows:

		December 31,
In thousands		2018				2017
Deferred income tax assets:
Accrued expenses and reserves		$	13,795			$	10,961
Warranty reserve		25,944				20,211
Deferred compensation/employee benefits		8,994				18,353
Pension and postretirement obligations		19,532				21,637
Inventory		16,769				19,620
Net operating loss carry forwards		85,051				65,671
Other		20,048				14,974
Gross deferred income tax assets		190,133				171,427
Valuation allowance		41,779				25,683
Total deferred income tax assets		148,354				145,744
Deferred income tax liabilities:
Property, plant & equipment		35,440				37,015
Intangibles		287,419				288,141
Total deferred income tax liabilities		322,859				325,156
Net deferred income tax liability		$	(174,505	)		$	(179,412	)

Liability for Income Taxes Associated with Uncertain Tax Positions

In thousands		2018				2017				2016
Gross liability for unrecognized tax benefits at beginning of year		$	6,910			$	8,423			$	10,557
Gross increases - unrecognized tax benefits in prior periods		5,389				2,466				6
Gross decreases - audit settlement during year		—				(3,979		)		—
Gross decreases - expiration of audit statute of limitations		(2,756		)		—				(2,140		)
Gross liability for unrecognized tax benefits at end of year		$	9,543			$	6,910			$	8,423

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

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