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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Taxes [Abstract]

Provision for income taxes

The provision for income taxes was as follows:

(in thousands)		2013				2012				2011
Currently payable:
Federal		$	21,252			$	22,394			$	28,480
State			3,065				3,024				2,845
Foreign			24,781				22,065				22,713
			49,098				47,483				54,038
Deferred (benefit) expense:
Federal			(5,125	)			170				(5,669	)
State			502				603				(274	)
Foreign			(1,555	)			2,143				2,805
			(6,178	)			2,916				(3,138	)
Income taxes		$	42,920			$	50,399			$	50,900

Tax effects of temporary differences - Deferred tax assets and liabilities

The tax effects of temporary differences that give rise to significant portions of deferred tax assets and liabilities consisted of the following:

(in thousands)		2013				2012
Deferred tax assets:
Benefit plans		$	21,148			$	17,375
Liabilities and reserves			11,499				9,140
Operating loss and credit carryovers			51,292				48,441
Other			17,151				16,096
Gross deferred tax assets			101,090				91,052
Valuation allowance			(43,048	)			(41,049	)
Deferred tax assets			58,042				50,003
Deferred tax liabilities:
Property, plant and equipment			(21,139	)			(19,430	)
Other assets			(1,411	)			(2,784	)
Other			(31,741	)			(26,668	)
Deferred tax liabilities			(54,291	)			(48,882	)
Net deferred tax assets		$	3,751			$	1,121

Effective income tax rate reconciliation

The effective tax rate differed from the statutory federal income tax rate of 35% as described below:

		2013				2012				2011
Taxes at statutory rate			35.0	%			35.0	%			35.0	%
State income taxes, net of federal income tax benefit			1.1				1.5				1.0
Tax credits			(0.3	)			—				(0.2	)
Taxes on foreign earnings			(5.3	)			(4.1	)			(2.5	)
Resolution of prior years’ tax matters			(0.7	)			(1.4	)			(0.6	)
Valuation allowance adjustments			(0.8	)			(0.5	)			(0.6	)
Revaluation of previously held interest			—				—				(0.7	)
Other, net			(1.5	)			(1.6	)			(1.7	)
Effective tax rate			27.5	%			28.9	%			29.7	%

Earnings before income taxes

Earnings before income taxes were as follows:

(in thousands)		2013				2012				2011
United States		$	55,461			$	79,118			$	70,023
Foreign			100,754				95,189				101,361
Total		$	156,215			$	174,307			$	171,384

Reconciliation of the change in liability for unrecognized tax benefits

A reconciliation of the change in the liability for unrecognized tax benefits for 2013 and 2012 is as follows:

(in thousands)		2013				2012
Balance at beginning of year		$	7,091			$	8,787
Increases for tax positions taken in the current year			818				599
Increases for tax positions taken in prior years			875				553
Decreases related to settlements with tax authorities			(3,113	)			(1,678	)
Decreases as a result of lapse of the applicable statutes of limitations			(374	)			(1,362	)
Foreign currency exchange rate changes			(2	)			192
Balance at the end of year		$	5,295			$	7,091

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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 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.

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