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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2019
INCOME TAXES |
Schedule of income before income taxes | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Years Ended December 31, |  | 2019 |  | 2018 |  | 2017 |
United States | ​ | $ | 94,612 | ​ | $ | 34,404 | ​ | $ | 36,139 | ​
International | ​ |  | 247,457 | ​ |  | 231,616 | ​ |  | 258,686 | ​
Total | ​ | $ | 342,069 | ​ | $ | 266,020 | ​ | $ | 294,825 | ​
Components of provision (benefit) for income taxes | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Years Ended December 31, | ​ | 2019 | ​ | 2018 | ​ | 2017 |
Current: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Federal | ​ | $ | 2,129 | ​ | $ | 10,273 | ​ | $ | (342) | ​
State/Local | ​ |  | 883 | ​ |  | 877 | ​ |  | 230 | ​
International | ​ |  | 88,084 | ​ |  | 83,456 | ​ |  | 72,670 | ​
​ | ​ | $ | 91,096 | ​ | $ | 94,606 | ​ | $ | 72,558 | ​
Deferred: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Federal/State | ​ | $ | 4,670 | ​ | $ | (17,019) | ​ | $ | 2,570 | ​
International | ​ |  | 4,076 | ​ |  | (6,333) | ​ |  | (332) | ​
​ | ​ | $ | 8,746 | ​ | $ | (23,352) | ​ | $ | 2,238 | ​
Total | ​ | $ | 99,842 | ​ | $ | 71,254 | ​ | $ | 74,796 | ​
Schedule of reconciliation of actual income tax provision and the tax provision computed by applying statutory federal income tax rate | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Years Ended December 31, |  | 2019 |  | 2018 |  | 2017 |
Income tax at statutory rate | ​ | $ | 71,835 | ​ | $ | 55,864 | ​ | $ | 103,189 | ​
State income taxes (benefits), net of federal (tax) benefit | ​ |  | 2,622 | ​ |  | (1,516) | ​ |  | (2,620) | ​
Investment incentives | ​ | ​ | (2,530) | ​ | ​ | (1,900) | ​ | ​ | (1,900) | ​
Tax resolutions | ​ | ​ | (1,915) | ​ | ​ | (3,400) | ​ | ​ | (5,188) | ​
Excess tax benefits from share-based compensation | ​ | ​ | (12,520) | ​ | ​ | (10,800) | ​ | ​ | (10,383) | ​
Deferred benefits from tax rate changes | ​ | ​ | — | ​ | ​ | (2,800) | ​ | ​ | (5,055) | ​
U.S. GILTI and BEAT | ​ | ​ | (1,485) | ​ | ​ | 5,625 | ​ | ​ | — | ​
U.S. tax reform - transition tax | ​ | ​ | — | ​ | ​ | (2,570) | ​ | ​ | 31,575 | ​
Results of forward contract | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (23,883) | ​
Valuation allowance | ​ | ​ | 10,623 | ​ | ​ | 3,170 | ​ | ​ | 1,344 | ​
Rate differential on earnings of foreign operations | ​ |  | 29,807 | ​ |  | 26,424 | ​ |  | (16,097) | ​
Other items, net | ​ |  | 3,405 | ​ |  | 3,157 | ​ |  | 3,814 | ​
Actual income tax provision | ​ | $ | 99,842 | ​ | $ | 71,254 | ​ | $ | 74,796 | ​
Effective income tax rate | ​ |  | 29.2 | % |  | 26.8 | % |  | 25.4 | %
Components of significant deferred tax assets and liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2019 |  | 2018 |
Deferred Tax Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net operating loss carryforwards | ​ | $ | 24,941 | ​ | $ | 22,462 | ​
Operating and finance leases | ​ | ​ | 25,440 | ​ | ​ | — | ​
Pension liabilities | ​ | ​ | 24,925 | ​ | ​ | 15,405 | ​
Share-based compensation | ​ |  | 6,082 | ​ | ​ | 10,130 | ​
U.S. federal tax credits | ​ | ​ | 8,575 | ​ | ​ | 12,045 | ​
U.S. state tax credits | ​ |  | 7,881 | ​ | ​ | 10,186 | ​
Vacation and bonus | ​ |  | 7,645 | ​ | ​ | 6,891 | ​
Research and development | ​ | ​ | 7,539 | ​ | ​ | 6,945 | ​
Inventory | ​ | ​ | 5,993 | ​ | ​ | 6,038 | ​
Workers compensation | ​ |  | 3,835 | ​ | ​ | 3,373 | ​
Other | ​ |  | 16,496 | ​ | ​ | 13,985 | ​
Total gross deferred tax assets | ​ |  | 139,352 | ​ | ​ | 107,460 | ​
Less valuation allowance | ​ |  | (23,320) | ​ | ​ | (11,189) | ​
Net deferred tax assets | ​ |  | 116,032 | ​ | ​ | 96,271 | ​
Deferred Tax Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Acquisition related intangibles | ​ |  | 62,851 | ​ | ​ | 59,004 | ​
Depreciation and amortization | ​ | ​ | 28,284 | ​ | ​ | 31,140 | ​
Operating and finance leases | ​ | ​ | 27,555 | ​ | ​ | 2,034 | ​
Other | ​ |  | 6,215 | ​ | ​ | 10,351 | ​
Total gross deferred tax liabilities | ​ |  | 124,905 | ​ | ​ | 102,529 | ​
Net deferred tax (liabilities) assets | ​ | $ | (8,873) | ​ | $ | (6,258) | ​
Schedule of reconciliation of the beginning and ending amount of income tax uncertainties | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2019 |  | 2018 |  | 2017 |
Balance at January 1 | ​ | $ | 3,559 | ​ | $ | 3,080 | ​ | $ | 6,356 | ​
Increases based on tax positions for the current year | ​ |  | 412 | ​ | ​ | 360 | ​ | ​ | 370 | ​
Increases based on tax positions of prior years | ​ |  | 663 | ​ | ​ | 610 | ​ | ​ | 1,562 | ​
Settlements | ​ |  | (558) | ​ | ​ | (491) | ​ | ​ | (4,874) | ​
Lapse of statute of limitations | ​ |  | (429) | ​ | ​ | — | ​ | ​ | (334) | ​
Balance at December 31 | ​ | $ | 3,647 | ​ | $ | 3,559 | ​ | $ | 3,080 | ​
Summary of major tax jurisdictions the Company files in, with the years still subject to income tax examinations | ​
​ | ​ | ​ | ​
​ |  | Tax Years |
Major Tax | ​ | Subject to |
Jurisdiction | ​ | Examination |
United States — Federal |  | 2014-2019 | ​
United States — State |  | 2010-2019 | ​
France |  | 2016-2019 | ​
Germany |  | 2015-2019 | ​
Italy |  | 2014-2019 | ​
China |  | 2010-2019 | ​

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319 + Details
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