(10)	TAXES ON INCOME

Earnings before taxes on income and details of the provision for taxes on income for the three months and six months ended June 30, 2017 and 2016 were as follows (in thousands):

	Three months ended June 30,				Six months ended June 30,
	2017		2016		2017		2016

Earnings before taxes on income – United States	$	43,015	$	62,474	$	84,013	$	123,817
Provision for taxes on income:
Federal:
Current	$	6,054	$	6,651	$	9,988	$	13,091
Deferred		10,089		14,969		18,651		29,682
State and local		900		1,745		1,757		3,451
	$	17,043	$	23,365	$	30,396	$	46,224

ASU 2016-09 requires that excess tax benefits and tax deficiencies related to share-based compensation be recognized as income tax expense or benefit in the income statement as discrete items in the reporting period in which they occur. This requirement was applied on a prospective basis to the tax effects of exercised or vested stock awards during the three months and six months ending June 30, 2017. This resulted in an increase in the provision for taxes on income of $852,000 for the three months ended June 30, 2017 and a decrease of $1,238,000 for the six months ended June 30, 2017.