12.

Income Taxes

The effective income tax rates for the three months ended March 31, 2017 and 2016 were 25.4% and 27.4%, respectively. The effective income tax rates in 2017 and 2016 were favorably impacted by a tax benefit related to share-based compensation accounted for under ASU 2016-09, a tax benefit attributable to the Domestic Production Activity (Internal Revenue Code Section 199) Deduction, favorable tax rates in foreign jurisdictions, and a benefit associated with the U.S. research and development credit, offset by state and local taxes and increases to uncertain tax positions.

It is reasonably possible that, within the next 12 months, total unrecognized tax benefits may decrease in the range of $1 million to $2 million, primarily as a result of the conclusion of pending U.S. federal, state and foreign income tax proceedings.