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Income Taxes
3 Months Ended
Jan. 31, 2015
Income Tax Disclosure [Abstract]  
Income Taxes

NOTE 11 — INCOME TAXES

Income tax expense was $17.5 million for the first quarter of 2015 compared with $16.5 million for the first quarter of 2014. The Company’s effective tax rate was 38.3 percent for the first quarter of 2015 versus 34.2 percent for the first quarter of 2014. The higher first quarter 2015 effective tax rate reflects the impact of a shift in global earnings mix to the United States, a higher taxed jurisdiction. In addition the higher rate reflects the impact of increases in valuation allowances primarily in Brazil, China, Germany and Turkey.

As of January 31, 2015, the Company had not recognized U.S. deferred income taxes on the undistributed earnings of our non-U.S. subsidiaries. It is the Company’s assertion that as of January 31, 2015 such earnings are permanently reinvested outside of the U.S. and determining the unrecognized deferred tax liability related to investments in these non-U.S. subsidiaries that are indefinitely reinvested is not practicable.