Financial report context:
a valuation allowance totaling $ 43.9 million , $ 40.4 million and $ 40.1 million as of 2012 , 2011 and 2010 year end , respectively , has been established for deferred income tax assets primarily related to certain subsidiary loss carryforwards that may not be realized . realization of the net deferred income tax assets is dependent on generating sufficient taxable income prior to their expiration . although realization is not assured , management believes it is more- likely-than-not that the net deferred income tax assets will be realized . the amount of the net deferred income tax assets considered realizable , however , could change in the near term if estimates of future taxable income during the carryforward period fluctuate . the following is a reconciliation of the beginning and ending amounts of unrecognized tax benefits for 2012 , 2011 and ( amounts in millions ) 2012 2011 2010 .

Financial table:
( amounts in millions ): unrecognized tax benefits at beginning of year; 2012: $ 11.0; 2011: $ 11.1; 2010: $ 17.5
( amounts in millions ): gross increases 2013 tax positions in prior periods; 2012: 0.7; 2011: 0.5; 2010: 0.6
( amounts in millions ): gross decreases 2013 tax positions in prior periods; 2012: -4.9 ( 4.9 ); 2011: -0.4 ( 0.4 ); 2010: -0.4 ( 0.4 )
( amounts in millions ): gross increases 2013 tax positions in the current period; 2012: 1.2; 2011: 2.8; 2010: 3.1
( amounts in millions ): settlements with taxing authorities; 2012: 2013; 2011: -1.2 ( 1.2 ); 2010: -9.5 ( 9.5 )
( amounts in millions ): increase related to acquired business; 2012: 2013; 2011: 2013; 2010: 0.4
( amounts in millions ): lapsing of statutes of limitations; 2012: -1.2 ( 1.2 ); 2011: -1.8 ( 1.8 ); 2010: -0.6 ( 0.6 )
( amounts in millions ): unrecognized tax benefits at end of year; 2012: $ 6.8; 2011: $ 11.0; 2010: $ 11.1

Additional report context:
of the $ 6.8 million , $ 11.0 million and $ 11.1 million of unrecognized tax benefits as of 2012 , 2011 and 2010 year end , respectively , approximately $ 4.1 million , $ 9.1 million and $ 11.1 million , respectively , would impact the effective income tax rate if recognized . interest and penalties related to unrecognized tax benefits are recorded in income tax expense . during 2012 and 2011 , the company reversed a net $ 0.5 million and $ 1.4 million , respectively , of interest and penalties to income associated with unrecognized tax benefits . as of 2012 , 2011 and 2010 year end , the company has provided for $ 1.6 million , $ 1.6 million and $ 2.8 million , respectively , of accrued interest and penalties related to unrecognized tax benefits . the unrecognized tax benefits and related accrued interest and penalties are included in 201cother long-term liabilities 201d on the accompanying consolidated balance sheets . snap-on and its subsidiaries file income tax returns in the united states and in various state , local and foreign jurisdictions . it is reasonably possible that certain unrecognized tax benefits may either be settled with taxing authorities or the statutes of limitations for such items may lapse within the next 12 months , causing snap-on 2019s gross unrecognized tax benefits to decrease by a range of zero to $ 2.4 million . over the next 12 months , snap-on anticipates taking uncertain tax positions on various tax returns for which the related tax benefit does not meet the recognition threshold . accordingly , snap-on 2019s gross unrecognized tax benefits may increase by a range of zero to $ 1.6 million over the next 12 months for uncertain tax positions expected to be taken in future tax filings . with few exceptions , snap-on is no longer subject to u.s . federal and state/local income tax examinations by tax authorities for years prior to 2008 , and snap-on is no longer subject to non-u.s . income tax examinations by tax authorities for years prior to 2006 . the undistributed earnings of all non-u.s . subsidiaries totaled $ 492.2 million , $ 416.4 million and $ 386.5 million as of 2012 , 2011 and 2010 year end , respectively . snap-on has not provided any deferred taxes on these undistributed earnings as it considers the undistributed earnings to be permanently invested . determination of the amount of unrecognized deferred income tax liability related to these earnings is not practicable . 2012 annual report 83 .

Question: what portion of the unrecognized tax benefits as of 2012 would impact the effective income tax rate if recognized?
Answer: 60.3%