INCOME TAXES	3 Months Ended
Mar. 31, 2017
INCOME TAXES
INCOME TAXES	8.INCOME TAXES The income tax provision for interim periods is determined using an estimate of the annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter, the estimate of the annual effective tax rate is updated, and if the estimated effective tax rate changes, a cumulative adjustment is made. There is a potential for volatility of the effective tax rate due to several factors, including changes in the mix of the pre-tax income and the jurisdictions to which it relates, changes in tax laws and foreign tax holidays, settlements with taxing authorities and foreign currency fluctuations. The Company has net operating loss carryforwards in an international jurisdiction expiring in 2017. The Company evaluates the future realizability of the tax loss and credit carryforwards considering the anticipated future earnings and tax planning strategies in the international jurisdictions. The effective income tax rate as a percentage of income before income taxes was 31.0% and 26.7% in the first quarter 2017 and 2016, respectively. The 2016 effective tax rate is revised from 28.7% to 26.7% to reflect the increase in income resulting from the error correction described in Note 1. The effective tax rate for the first quarters of 2017 and 2016 is net of a discrete tax benefit of (2.3%) and (5.0%), respectively, related to the recognition of excess tax benefits for share-based payment awards. The effective rate before discrete items varies from the statutory rate due to permanent differences in state taxes and the difference in US and foreign tax rates and the mix of foreign and domestic income.

INCOME TAXES

3 Months Ended

Mar. 31, 2017

8.INCOME TAXES

The income tax provision for interim periods is determined using an estimate of the annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter, the estimate of the annual effective tax rate is updated, and if the estimated effective tax rate changes, a cumulative adjustment is made. There is a potential for volatility of the effective tax rate due to several factors, including changes in the mix of the pre-tax income and the jurisdictions to which it relates, changes in tax laws and foreign tax holidays, settlements with taxing authorities and foreign currency fluctuations.

The Company has net operating loss carryforwards in an international jurisdiction expiring in 2017. The Company evaluates the future realizability of the tax loss and credit carryforwards considering the anticipated future earnings and tax planning strategies in the international jurisdictions.

The effective income tax rate as a percentage of income before income taxes was 31.0% and 26.7% in the first quarter 2017 and 2016, respectively. The 2016 effective tax rate is revised from 28.7% to 26.7% to reflect the increase in income resulting from the error correction described in Note 1. The effective tax rate for the first quarters of 2017 and 2016 is net of a discrete tax benefit of (2.3%) and (5.0%), respectively, related to the recognition of excess tax benefits for share-based payment awards.

The effective rate before discrete items varies from the statutory rate due to permanent differences in state taxes and the difference in US and foreign tax rates and the mix of foreign and domestic income.