A reconciliation of the U.S. federal statutory rate of 35 percent to the Company's actual income tax rate for the years ended December 31 on continuing operations was as follows:
| 2013 | 2012 | 2011 | |||||||
| U.S. statutory federal income tax rate | 35.0 | % | 35.0 | % | 35.0 | % | |||
| Increase (decrease) in taxes resulting from: | |||||||||
| Tax-exempt income | (1.6) | (1.6) | (1.5) | ||||||
| State and local income taxes, net of | |||||||||
| federal benefit | 3.1 | 2.5 | 2.6 | ||||||
| Non-U.S. subsidiaries earnings(a) | (2.8) | (5.2) | (4.4) | ||||||
| Tax settlements(b) | (1.9) | (0.2) | (1.9) | ||||||
| All other | 0.3 | ― | (0.2) | ||||||
| Actual tax rates(a) | 32.1 | % | 30.5 | % | 29.6 | % | |||