Income Taxes	3 Months Ended
Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	NOTE L – INCOME TAXES The Company’s effective tax rate was 28% and 27% for the three months ended March 31, 2017 and 2016, respectively. The lower effective tax rate for the three months ended March 31, 2017 and 2016 compared to the U.S. federal statutory tax rate of 35% was primarily due to an increase in earnings in jurisdictions with lower tax rates than the U.S. federal statutory tax rate where such earnings are permanently reinvested. As described in Note I, effective January 1, 2017, the Company adopted the new guidance (ASU 2016-09) and will record excess tax benefits or tax deficiencies from stock-based compensation in the Statements of Consolidated Income within the provision for income taxes rather than in the Consolidated Balance Sheets within Paid-in capital. The adoption of ASU 2016-09 did not have a material impact to the Company’s consolidated financial statements. The Company provides valuation allowances against deferred tax assets when it is more likely than not that some portion or all of its deferred tax assets will not be realized. No significant changes to the valuation allowance were reflected for the period ended March 31, 2017. During the period ended March 31, 2017, the Company did not record any unrecognized tax benefits and as of March 31, 2017, the Company had no unrecognized tax benefits. The Company does not anticipate any significant changes to its gross unrecognized tax benefits within the next twelve months.

Income Taxes

3 Months Ended

Mar. 31, 2017

NOTE L – INCOME TAXES

The Company’s effective tax rate was 28% and 27% for the three months ended March 31, 2017 and 2016, respectively. The lower effective tax rate for the three months ended March 31, 2017 and 2016 compared to the U.S. federal statutory tax rate of 35% was primarily due to an increase in earnings in jurisdictions with lower tax rates than the U.S. federal statutory tax rate where such earnings are permanently reinvested.

As described in Note I, effective January 1, 2017, the Company adopted the new guidance (ASU 2016-09) and will record excess tax benefits or tax deficiencies from stock-based compensation in the Statements of Consolidated Income within the provision for income taxes rather than in the Consolidated Balance Sheets within Paid-in capital. The adoption of ASU 2016-09 did not have a material impact to the Company’s consolidated financial statements.

The Company provides valuation allowances against deferred tax assets when it is more likely than not that some portion or all of its deferred tax assets will not be realized. No significant changes to the valuation allowance were reflected for the period ended March 31, 2017.

During the period ended March 31, 2017, the Company did not record any unrecognized tax benefits and as of March 31, 2017, the Company had no unrecognized tax benefits. The Company does not anticipate any significant changes to its gross unrecognized tax benefits within the next twelve months.