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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule Of Earnings Before Provision For Income Taxes And Discontinued Operations [Table Text Block]

Income taxes have been based on the following components of earnings before provision for income taxes and discontinued operations in the Consolidated Statements of Earnings: 

			Years Ended December 31,
			2020						2019						2018
Domestic			$	464,145					$	448,301					$	344,793
Foreign			377,589						394,708						380,585
Total			$	841,734					$	843,009					$	725,378

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

Income tax expense (benefit) relating to continuing operations for the years ended December 31, 2020, 2019 and 2018 is comprised of the following:  

			Years Ended December 31,
			2020						2019						2018
Current:
U.S. federal			$	79,305					$	71,069					$	47,445
State and local			13,312						16,709						14,120
Foreign			97,106						102,284						86,523
Total current			189,723						190,062						148,088
Deferred:
U.S. federal			2,777						(6,033)						876
State and local			(10,526)						1,770						626
Foreign			(23,691)						(20,708)						(15,357)
Total deferred			(31,440)						(24,971)						(13,855)
Total expense			$	158,283					$	165,091					$	134,233

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

Differences between the effective income tax rate and the U.S. federal income statutory tax rate are as follows:

			Years Ended December 31,
			2020						2019						2018
U.S. federal income tax rate			21.0		%				21.0		%				21.0		%
State and local taxes, net of federal income tax benefit			1.7						1.7						1.6
Foreign operations tax effect			(0.8)						(1.3)						(1.1)
SAB 118			—						—						(0.6)
Foreign tax credits			—						(0.1)						(0.3)
Foreign-derived intangible income			(1.1)						(1.0)						(0.8)
Share awards			(1.2)						(1.7)						(2.0)
Disposition of businesses			—						1.2						—
Other			(0.8)						(0.2)						0.7
Effective tax rate from continuing operations			18.8		%				19.6		%				18.5		%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The tax effects of temporary differences that give rise to deferred tax assets and liabilities are as follows:

			December 31, 2020						December 31, 2019
Deferred Tax Assets:
Accrued compensation, principally postretirement and other employee benefits			$	60,797					$	62,547
Accrued expenses, principally for state income taxes, interest and warranty			32,418						29,736
Net operating loss and other carryforwards			319,291						269,599
Inventories, principally due to reserves for financial reporting purposes and capitalization for tax purposes			23,723						17,671
Accounts receivable, principally due to allowance for doubtful accounts			7,118						3,409
Accrued insurance			4,165						2,001
Long-term liabilities, principally warranty, environmental and exit costs			2,273						3,305
Lease obligations			40,984						35,473
Total gross deferred tax assets			490,769						423,741
Valuation allowance			(287,679)						(244,153)
Total deferred tax assets, net of valuation allowances			$	203,090					$	179,588
Deferred Tax Liabilities:
Intangible assets, principally due to different tax and financial reporting bases and amortization lives			$	(387,897)					$	(364,843)
Property, plant and equipment, principally due to differences in depreciation			(62,667)						(56,401)
Lease right-of-use assets			(38,742)						(34,191)
Other liabilities			9,992						(19,716)
Total gross deferred tax liabilities			(479,314)						(475,151)
Net deferred tax liability			$	(276,224)					$	(295,563)
Classified as follows in the Consolidated Balance Sheets:
Other assets and deferred charges			$	22,199					$	26,473
Deferred income taxes			(298,423)						(322,036)
			$	(276,224)					$	(295,563)

Schedule Of Unrecognized Tax Benefits [Table Text Block]

The following table is a reconciliation of the beginning and ending balances of the Company’s unrecognized tax benefits:

															Total
Unrecognized tax benefits at January 1, 2018															$	68,034
Additions based on tax positions related to the current year															15,580
Additions for tax positions of prior years															29,637
Reductions for tax positions of prior years															(5,226)
Cash settlements															(7,345)
Lapse of statutes															(7,219)
Unrecognized tax benefits at December 31, 2018															93,461
Additions based on tax positions related to the current year															4,493
Additions for tax positions of prior years															6,668
Reductions for tax positions of prior years															(9,217)
Cash settlements															(922)
Lapse of statutes															(11,269)
Unrecognized tax benefits at December 31, 2019															83,214
Additions based on tax positions related to the current year															3,134
Additions for tax positions of prior years															5,490
Reductions for tax positions of prior years															(3,599)
Cash settlements															(6,214)
Lapse of statutes															(9,687)
Unrecognized tax benefits at December 31, 2020 (1)															$	72,338

(1) If recognized, the net amount of potential tax benefits that would impact the Company’s effective tax rate is $65.5 million. During the years ended December 31, 2020, 2019 and 2018, the Company recorded (income) expense of $(0.1) million, $(0.6) million and $2.4 million, respectively, as a component of provision for income taxes related to the accrued interest and penalties on unrecognized tax benefits. The Company had accrued interest and penalties of $17.8 million at December 31, 2020 and $17.8 million at December 31, 2019, which are not included in the above table.

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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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