Income Taxes The effective tax rate was 44.2% in 2001, 41.3% in 2000 and 42.6% in 1999. A reconciliation of the Federal statutory income tax rate to the Company's effective tax rate is  as follows: Significant components of the Company's deferred tax  liabilities as of December 31, 2001 and 2000 are as follows: 26 ( Dollars in thousands) 2001 2000  Deferred income tax liabilities Property, plant and equipment  $19,689  $17,332 Employee benefit trust 435 354  Other  388 969 20,512 18,655 Deferred income tax assets Compensation 3,276 2,945 Inventory valuation 1,246 1,129 Allowance for uncollectible accounts 971 733 Non-deductible accruals 2,423 2,810 7,916 7,617 Net deferred income tax liability $12,596 $11,038 (Dollars in thousands) 2001 2000 1999 Current Deferred Current Deferred Current Deferred Federal $6,518 $2,140 $12,152 $671 $13,052 $3,250 Foreign 2,322 (529) 1,457 (12) 3,190 9 State and local 1,651 (53)  2,325 316 3,343 281 $10,491 $1,558 $15,934 $975 $19,585 $3,540 Income taxes consisted of the following: Percent of Pre-Tax Income 2001 2000 1999 Statutory Federal income tax rate 35.0% 35.0% 35.0% State income taxes – net of Federal tax benefit 3.8 4.2 4.2 Foreign tax rate differential 2.1 (.5) 2.1 Effect of non-deductible depreciation and amortization 2.3 1.3 .7 Other 1.0 1.3 .6 Effective tax rate for the year 44.2% 41.3% 42.6% Notes To Consolidated Financial Statements Myers Industries, Inc. and Subsidiaries For The Years Ended December 31, 2001, 2000 and 1999