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INCOME TAXES. (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Schedules of provision for income taxes and deferred income taxes (tax benefits)

The deferred income taxes (tax benefits) recognized as part of our provision for income taxes is related to:

(in millions)	2015				2016				2017
Property and equipment	$	(2.3	)		$	3.2			$	(3.9	)
Stock-based compensation	(14.6		)		1.3				72.4
Accrued compensation	(.9		)		(1.7		)		1.2
Supplemental savings plan liability	(27.4		)		(30.9		)		(8.3		)
Other-than-temporary impairments of available-for-sale investments	(.4		)		10.0				7.3
Unrealized holding gains recognized in non-operating income	(2.4		)		31.6				10.7
Other	4.7				—				(7.7		)
Total deferred income taxes (tax benefits)	$	(43.3	)		$	13.5			$	71.7

The provision for income taxes consists of:

(in millions)	2015				2016				2017
Current income taxes
U.S. federal	$	669.5			$	573.7			$	708.1
State and local	134.3				105.8				131.0
Foreign	18.9				13.5				13.1
Deferred income taxes (tax benefits)	(43.3		)		13.5				71.7
Total	$	779.4			$	706.5			$	923.9

Schedule of effective income tax rate reconciliation

The following table reconciles the statutory federal income tax rate to our effective income tax rate.

	2015			2016			2017
Statutory U.S. federal income tax rate	35.0	%		35.0	%		35.0	%
Impact of U.S. tax reform	—			—			2.9
State income taxes for current year, net of federal income tax benefits(1)	4.3			3.8			3.9
Net income attributable to redeemable non-controlling interests	—			(.7	)		(1.3	)
Net excess tax benefits from stock-based compensation plans activity	—			(1.7	)		(3.0	)
Other items	(.4	)		(.4	)		(.6	)
Effective income tax rate	38.9	%		36.0	%		36.9	%

⁽¹⁾In 2017, state income benefits totaling (.4)% are reflected in the total benefits for net income attributable to redeemable non-controlling interests and stock-based compensation plans activity. The amounts were not material in 2015 and 2016.

Schedule of deferred tax assets and liabilities

The net deferred tax assets recognized in our consolidated balance sheets in other assets as of December 31 relate to the following:

(in millions)	2016				2017
Deferred tax liabilities
Property and equipment	$	(39.2	)		$	(35.3	)
Net unrealized holding gains recognized in income	(43.2		)		(53.9		)
Net unrealized holding gains on investments held as available-for-sale	(33.4		)		(3.1		)
Other	(27.5		)		(18.9		)
	(143.3		)		(111.2		)
Deferred tax assets
Stock-based compensation	165.1				92.7
Asset impairments	16.1				8.8
Accrued compensation	5.6				4.4
Supplemental savings plan	58.3				66.6
Currency translation adjustment	23.0				2.2
Other	7.7				6.8
	275.8				181.5
Net deferred tax asset	$	132.5			$	70.3

Schedule of unrecognized tax benefits

The following table summarizes the changes in our unrecognized tax benefits.

(in millions)	2015				2016				2017
Balance at beginning of year	$	5.6			$	5.8			$	6.2
Changes in tax positions related to
Current year	.7				.6				1.5
Prior years	1.8				—				.1
Expired statute of limitations	(2.3		)		(.2		)		(.2		)
Balance at end of year	$	5.8			$	6.2			$	7.6

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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.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
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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 the change in unrecognized tax benefits.

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