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Income Taxes	6 Months Ended
Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	NOTE N – INCOME TAXES The Company’s effective tax rate was 29% and 24% for the three-month periods ended June 30, 2021 and 2020, respectively, and 31% and 26% for the six months ended June 30, 2021 and 2020, respectively. The higher effective tax rate for the three and six months ended June 30, 2021 and 2020 compared to the U.S. federal statutory rate of 21% was primarily due to an increase in U.S. permanent items primarily related to limitations on the deductibility of executive compensation, plus adjustments due to foreign income and an increase in earnings in jurisdictions with higher tax rates than the U.S. federal statutory rate where such earnings are permanently reinvested. The effective tax rate increase for the second quarter of 2021 compared to the second quarter of 2020 is primarily due to a greater increase in pre-tax earnings along with the permanent items having a less significant change in the second quarter of 2021 compared to the second quarter of 2020. 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, 2021 or December 31, 2020. There were no significant changes to any of the balances of unrecognized tax benefits on for the six months ended June 30, 2021 or the year ended December 31, 2020.

Income Taxes

6 Months Ended

Jun. 30, 2021

NOTE N – INCOME TAXES

The Company’s effective tax rate was 29% and 24% for the three-month periods ended June 30, 2021 and 2020, respectively, and 31% and 26% for the six months ended June 30, 2021 and 2020, respectively. The higher effective tax rate for the three and six months ended June 30, 2021 and 2020 compared to the U.S. federal statutory rate of 21% was primarily due to an increase in U.S. permanent items primarily related to limitations on the deductibility of executive compensation, plus adjustments due to foreign income and an increase in earnings in jurisdictions with higher tax rates than the U.S. federal statutory rate where such earnings are permanently reinvested. The effective tax rate increase for the second quarter of 2021 compared to the second quarter of 2020 is primarily due to a greater increase in pre-tax earnings along with the permanent items having a less significant change in the second quarter of 2021 compared to the second quarter of 2020.

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, 2021 or December 31, 2020.

There were no significant changes to any of the balances of unrecognized tax benefits on for the six months ended June 30, 2021 or the year ended December 31, 2020.

- 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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