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Taxes On Income (Tables)

12 Months Ended

Dec. 31, 2011

Taxes On Income [Abstract]

Schedule Of Income Before Taxes On Income

		Year ended December 31,
		2011				2010				2009
Income  before taxes on income:
Domestic		$	95,226			$	160,749			$	186,444
Foreign			8,778				38,612				60,886
		$	104,004			$	199,361			$	247,330

Schedule Of Taxes On Income

		Year ended December 31,
		2011				2010				2009
Taxes on income:
Current taxes:
Domestic		$	13,896			$	26,842			$	30,006
Foreign			1,328				16,616				15,350
			15,224				43,458				45,356
Adjustment for previous years:
Domestic			2,009				(3,889	)			(6,491	)
Foreign			(2,308	)			1,885				91
			(299	)			(2,004	)			(6,400	)
Deferred income taxes:
Domestic			(2,861	)			(10,303	)			(3,763	)
Foreign			1,560				(7,114	)			2,916
			(1,301	)			(17,417	)			(847	)
		$	13,624			$	24,037			$	38,109

Schedule Of Uncertain Tax Positions

		2011				2010
Balance at the beginning of the year		$	48,791			$	33,348
Additions related to interest			405				1,801
Additions based on tax positions taken during a prior period			5,336				6,022
Reduction related to tax positions taken during a prior period			(3,746	)			(4,252	)
Reductions related to settlement of tax matters			(4,684	)			(1,508	)
Additions based on tax positions taken during the current period			8,305				6,862
Reduction related to a lapse of applicable statute of limitation			(1,224	)			-
Additions related to acquisitions			-				6,518
Balance at the end of the year		$	53,183			$	48,791

Schedule Of Deferred Income Taxes

						Deferred (1)  Tax Asset (Liability)
		Total				Current				Non-current
As of December 31, 2011
Deferred tax assets:
Reserves and allowances		$	20,650			$	15,939			$	4,711
Inventory allowances			6,328				6,328				-
Property, plant and equipment			2,421				1,087				1,334
Other assets			22,415				10,242				12,173
Net operating loss carry forwards			20,881				1,667				19,214
			72,695				35,263				37,432
Valuation allowance			(1,302	)			-				(1,302	)
Net deferred tax assets			71,393				35,263				36,130
Deferred tax liabilities:
Intangible assets			(40,386	)			-				(40,386	)
Property, plant and equipment			(16,024	)			-				(16,024	)
Reserves and allowances			24,419				-				24,419
			(31,991	)			-				(31,991	)
Net deferred tax assets		$	39,402			$	35,263			$	4,139
As of December 31, 2010
Deferred tax assets:
Reserves and allowances		$	26,992			$	19,776			$	7,216
Inventory allowances			4,251				4,251				-
Property, plant and equipment			4,858				1,187				3,671
Other			4,530				2,116				2,414
Net operating loss carry forwards			18,684				2,093				16,591
			59,315				29,423				29,892
Valuation allowance			(160	)			(160	)			-
Net deferred tax assets			59,155				29,263				29,892
Deferred tax liabilities:
Intangible assets			(48,610	)			-				(48,610	)
Property, plant and equipment			(12,463	)			-				(12,463	)
Reserves and allowances			25,833				-				25,833
			(35,240	)			-				(35,240	)
Net deferred tax assets (liabilities)		$	23,915			$	29,263			$	(5,348	)

(1) The current deferred tax asset is included in other receivables and prepaid expenses.

(2) The non-current deferred tax asset is included in deferred income taxes, net.

(3) The non-current deferred tax liability is included in deferred income and tax liabilities, net.

Schedule Of Effective Income Tax Rate Reconciliation

		Year ended December 31,
		2011				2010				2009
Income  before taxes as reported in the consolidated statements of income		$	104,004			$	199,361			$	247,330
Statutory tax rate			24	%			25	%			26	%
Theoretical tax expense		$	24,961			$	49,840			$	64,306
Tax benefit arising from reduced rate as an "Approved and Privileged Enterprise" and other tax benefits (*)			(11,451	)			(20,528	)			(31,712	)
Tax adjustment in respect of different tax rates for foreign subsidiaries			2,721				5,382				5,663
Changes in carry-forward losses and valuation allowance			(125	)			(8,066	)			(1,506	)
Increase in taxes resulting from non-deductible expenses			1,105				3,020				3,133
Difference in basis of measurement for financial reporting and tax return purposes			(2,375	)			(3,370	)			4,124
Taxes in respect of prior years (**)			(274	)			(2,003	)			(6,400	)
Other differences, net			(938	)			(238	)			501
Actual tax expenses		$	13,624			$	24,037			$	38,109
Effective tax rate			13.10	%			12.06	%			15.4	%
(*)       Net earnings per share – amounts of the benefit resulting from the Approved and Privileged Enterprises
Basic		$	0.27			$	0.48			$	0.75
Diluted		$	0.27			$	0.47			$	0.74
(**)   Taxes in respect of prior years:

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

+ References

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-Publisher FASB

-Name FASB Interpretation (FIN)

-Number 48

-Paragraph 21

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



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