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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2016
Income Taxes [Abstract] |
Provision for Income Taxes | The provision for income taxes for continuing operations was as follows:
(In thousands) |  | 2016 |  |  | 2015 |  |  | 2014 |
Currently payable: |  |  |  |  |  |  |  |  |
Federal |  | $ | 12,145 |  |  | $ | 20,794 |  |  | $ | 18,642 |
State |  |  | 2,631 |  |  |  | 2,936 |  |  |  | 2,264 |
Foreign |  |  | 19,168 |  |  |  | 23,873 |  |  |  | 25,435 |
|  |  | 33,944 |  |  |  | 47,603 |  |  |  | 46,341 |
Deferred (benefit) expense: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | 7,630 |  |  |  | 5,779 |  |  |  | 1,532 |
State |  |  | 1,656 |  |  |  | (772 | ) |  |  | (935 | )
Foreign |  |  | 1,142 |  |  |  | (10,461 | ) |  |  | (14,111 | )
|  |  | 10,428 |  |  |  | (5,454 | ) |  |  | (13,514 | )
Income taxes |  | $ | 44,372 |  |  | $ | 42,149 |  |  | $ | 32,827 |
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) |  | 2016 |  |  | 2015 |
Deferred tax assets: |  |  |  |  |  |
Benefit plans |  | $ | 11,040 |  |  | $ | 12,901 |
Liabilities and reserves |  |  | 15,733 |  |  |  | 18,986 |
Operating loss and credit carryovers |  |  | 49,778 |  |  |  | 59,013 |
Other |  |  | 3,181 |  |  |  | 3,226 |
Gross deferred tax assets |  |  | 79,732 |  |  |  | 94,126 |
Valuation allowance |  |  | (35,426 | ) |  |  | (36,008 | )
Deferred tax assets |  |  | 44,306 |  |  |  | 58,118 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Property, plant and equipment |  |  | (1,186 | ) |  |  | (1,850 | )
Other assets |  |  | (353 | ) |  |  | (907 | )
Goodwill |  |  | (27,863 | ) |  |  | (27,824 | )
Other |  |  | (12,434 | ) |  |  | (8,000 | )
Deferred tax liabilities |  |  | (41,836 | ) |  |  | (38,581 | )
Net deferred tax assets |  | $ | 2,470 |  |  | $ | 19,537 |
Effective Income Tax Rate Reconciliation | The effective tax rate for continuing operations differed from the statutory federal income tax rate of 35% as described below:
|  | 2016 |  |  | 2015 |  |  | 2014 |
Taxes at statutory rate |  |  | 35.0 | % |  |  | 35.0 | % |  |  | 35.0 | %
State income taxes, net of federal income tax benefit |  |  | 1.4 |  |  |  | 1.7 |  |  |  | 1.9 |
Tax credits |  |  | (1.8 | ) |  |  | (0.7 | ) |  |  | (0.4 | )
Taxes on foreign earnings |  |  | (4.4 | ) |  |  | (0.8 | ) |  |  | (4.7 | )
Resolution of prior years’ tax matters |  |  | - |  |  |  | (0.3 | ) |  |  | (0.6 | )
U.S. manufacturing deduction |  |  | (2.0 | ) |  |  | (1.9 | ) |  |  | (2.0 | )
Valuation allowance adjustments |  |  | (0.3 | ) |  |  | (5.0 | ) |  |  | 0.2 |
Other, net |  |  | (1.4 | ) |  |  | 0.2 |  |  |  | (0.8 | )
Effective tax rate |  |  | 26.5 | % |  |  | 28.2 | % |  |  | 28.6 | %
Earnings Before Income Taxes | Earnings from continuing operations before income taxes were as follows:
(In thousands) |  |  | 2016 |  |  |  | 2015 |  |  |  | 2014 |
United States |  | $ | 96,963 |  |  | $ | 87,749 |  |  | $ | 56,211 |
Foreign |  |  | 70,322 |  |  |  | 61,647 |  |  |  | 58,387 |
Total |  | $ | 167,285 |  |  | $ | 149,396 |  |  | $ | 114,598 |
Reconciliation of Change in Liability for Unrecognized Tax Benefits | A reconciliation of the change in the liability for unrecognized tax benefits for 2016 and 2015 is as follows:
(in thousands) |  | 2016 |  |  | 2015 |
Balance at beginning of year |  | $ | 4,963 |  |  | $ | 13,940 |
Increases for tax positions taken in the current year |  |  | 570 |  |  |  | 1,322 |
Increases for tax positions taken in prior years |  |  | 1,204 |  |  |  | 1,061 |
Decreases related to settlements with tax authorities |  |  | (1,172 | ) |  |  | (10,610 | )
Decreases as a result of lapse of the applicable statutes of limitations |  |  | (426 | ) |  |  | (278 | )
Foreign currency exchange rate changes |  |  | (192 | ) |  |  | (472 | )
Balance at the end of year |  | $ | 4,947 |  |  | $ | 4,963 |

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