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INCOME TAXES (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2013
INCOME TAXES |
Schedule of income before income taxes |
Years Ended December 31, |  | 2013 |  | 2012 |  | 2011 |
United States |  | $ | 28,968 |  | $ | 58,250 |  | $ | 54,161 |
International |  |  | 235,415 |  |  | 183,123 |  |  | 220,781 |
Total |  | $ | 264,383 |  | $ | 241,373 |  | $ | 274,942 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Components of provision (benefit) for income taxes |
Years Ended December 31, |  | 2013 |  | 2012 |  | 2011 |
--- | --- | --- | --- | --- | --- | --- | ---
Current: |  |  |  |  |  |  |  |  |  |
U.S. Federal |  | $ | 7,174 |  | $ | 17,027 |  | $ | 21,974 |
State/Local |  |  | (631 | ) |  | 491 |  |  | 1,008 |
International |  |  | 79,070 |  |  | 70,450 |  |  | 66,326 |
|  | $ | 85,613 |  | $ | 87,968 |  | $ | 89,308 |
Deferred: |  |  |  |  |  |  |  |  |  |
U.S. Federal/State |  | $ | 9,575 |  | $ | 8,757 |  | $ | 2,976 |
International |  |  | (2,731 | ) |  | (17,772 | ) |  | (972 | )
|  | $ | 6,844 |  | $ | (9,015 | ) | $ | 2,004 |
Total |  | $ | 92,457 |  | $ | 78,953 |  | $ | 91,312 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of reconciliation of actual income tax provision and the tax provision computed by applying statutory federal income tax rate |
Years Ended December 31, |  | 2013 |  | 2012 |  | 2011 |
Income tax at statutory rate |  | $ | 92,534 |  | $ | 84,481 |  | $ | 96,230 |
State income taxes (benefits), net of federal benefit (tax) |  |  | (610 | ) |  | 717 |  |  | 1,074 |
Provision for distribution of current foreign earnings |  |  | 11,388 |  |  | 9,552 |  |  | 10,325 |
Rate differential on earnings of foreign operations |  |  | (10,167 | ) |  | (14,865 | ) |  | (14,497 | )
Other items, net |  |  | (688 | ) |  | (932 | ) |  | (1,820 | )
Actual income tax provision |  | $ | 92,457 |  | $ | 78,953 |  | $ | 91,312 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Effective income tax rate |  |  | 35.0 | % |  | 32.7 | % |  | 33.2 | %
Components of significant deferred tax assets and liabilities |
|  | 2013 |  | 2012 |
--- | --- | --- | --- | --- | ---
Deferred Tax Assets: |  |  |  |  |  |  |
Pension liabilities |  | $ | 21,106 |  | $ | 36,376 |
Stock options |  |  | 10,785 |  |  | 15,700 |
Net operating loss carryforwards |  |  | 6,675 |  |  | 7,084 |
U.S. state tax credits |  |  | 6,192 |  |  | 3,441 |
Vacation |  |  | 6,109 |  |  | 5,325 |
Workers compensation |  |  | 4,180 |  |  | 4,511 |
Inventory |  |  | 3,866 |  |  | 4,567 |
Accruals |  |  | 2,084 |  |  | 2,502 |
Other |  |  | 9,759 |  |  | 8,213 |
Total gross deferred tax assets |  |  | 70,756 |  |  | 87,719 |
Less valuation allowance |  |  | (4,840 | ) |  | (7,033 | )
Net deferred tax assets |  |  | 65,916 |  |  | 80,686 |
Deferred Tax Liabilities: |  |  |  |  |  |  |
Depreciation, amortization and leases |  |  | 61,316 |  |  | 58,587 |
Acquisition related intangibles |  |  | 20,100 |  |  | 19,346 |
Total gross deferred tax liabilities |  |  | 81,416 |  |  | 77,933 |
Net deferred tax assets |  | $ | (15,500 | ) | $ | 2,753 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of reconciliation of the beginning and ending amount of income tax uncertainties |
|  | 2013 |  | 2012 |  | 2011 |
--- | --- | --- | --- | --- | --- | --- | ---
| Balance at January 1 |  | $ | 8,464 |  | $ | 9,071 |  | $ | 10,893 |
| Increases based on tax positions for the current year |  |  | 110 |  |  | 245 |  |  | 150 |
| Increases based on tax positions of prior years |  |  | 381 |  |  | 107 |  |  | 128 |
| Decreases based on tax positions of prior years |  |  | (92 | ) |  | (257 | ) |  | (1,090 | )
| Settlements |  |  | (515 | ) |  | (21 | ) |  | (457 | )
| Lapse of statute of limitations |  |  | (360 | ) |  | (681 | ) |  | (553 | )
| Balance at December 31 |  | $ | 7,988 |  | $ | 8,464 |  | $ | 9,071 |
| ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Summary of major tax jurisdictions the Company files in, with the years still subject to income tax examinations |
| Major Tax Jurisdiction |  | Tax Years Subject to Examination
--- | --- | --- | ---
| United States — Federal |  | 2009 – 2013
| United States — State |  | 2004 – 2013
| France |  | 2011 – 2013
| Germany |  | 2011 – 2013
| Italy |  | 2009 – 2013
| Switzerland |  | 2004 – 2013

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- Definition Tabular disclosure of 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 (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 + Details
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