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Income Taxes	6 Months Ended
Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	NOTE N – INCOME TAXES The Company’s effective tax rate was 25% and 28% for the three months ended June 30, 2020 and 2019, respectively, and 26% and 24% for the six months ended June 30, 2020 and 2019, respectively. The higher effective tax rate for the three and six months ended June 30, 2020 and 2019 compared to the U.S. federal statutory rate of 21% was primarily due to increases in earnings in jurisdictions with higher tax rates than the U.S. federal statutory rate where such earnings are permanently reinvested, an increase in various U.S. permanent items, primarily limitations on the deductibility of executive compensation, and losses in jurisdictions where no tax benefit is realized. 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 allowances were reflected for the periods ended June 30, 2020 or June 30, 2019. The Company previously considered the majority of the earnings in its non-U.S. subsidiaries to be permanently reinvested and accordingly did not record any associated deferred income taxes on remittance of such earnings. The Company intends to continue to invest most or all of these earnings, as well as its capital in these subsidiaries, indefinitely, outside of the U.S. and does not expect to incur any significant additional taxes related to such earnings.

Income Taxes

6 Months Ended

Jun. 30, 2020

NOTE N – INCOME TAXES

The Company’s effective tax rate was 25% and 28% for the three months ended June 30, 2020 and 2019, respectively, and 26% and 24% for the six months ended June 30, 2020 and 2019, respectively. The higher effective tax rate for the three and six months ended June 30, 2020 and 2019 compared to the U.S. federal statutory rate of 21% was primarily due to increases in earnings in jurisdictions with higher tax rates than the U.S. federal statutory rate where such earnings are permanently reinvested, an increase in various U.S. permanent items, primarily limitations on the deductibility of executive compensation, and losses in jurisdictions where no tax benefit is realized.

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 allowances were reflected for the periods ended June 30, 2020 or June 30, 2019.

The Company previously considered the majority of the earnings in its non-U.S. subsidiaries to be permanently reinvested and accordingly did not record any associated deferred income taxes on remittance of such earnings. The Company intends to continue to invest most or all of these earnings, as well as its capital in these subsidiaries, indefinitely, outside of the U.S. and does not expect to incur any significant additional taxes related to such earnings.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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