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INCOME TAXES. (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

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

The provision for income taxes consists of:

(in millions)			2020						2019						2018
Current income taxes
U.S. federal			$	547.1					$	490.9					$	484.2
State and local			135.2						135.9						138.7
Foreign			22.9						18.3						28.5
Deferred income taxes (benefits)			13.7						33.3						(35.5)
Total			$	718.9					$	678.4					$	615.9

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

(in millions)			2020						2019						2018
Property and equipment			$	15.6					$	3.0					$	11.0
Asset impairments			2.9						(2.4)						.9
Stock-based compensation			1.8						4.5						7.1
Accrued compensation			(2.2)						1.3						(2.2)
Supplemental savings plan liability			(43.3)						(33.6)						(17.4)
Unrealized holding gains recognized in non-operating income			46.8						63.0						(32.0)
Other			(7.9)						(2.5)						(2.9)
Total deferred income taxes (benefits)			$	13.7					$	33.3					$	(35.5)

Schedule of effective income tax rate reconciliation

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

			2020						2019						2018
Statutory U.S. federal income tax rate			21.0		%				21.0		%				21.0		%
Nonrecurring charge relating to U.S. tax reform			—						—						.8
Nonrecurring charge related to Maryland state tax legislation			—						—						.3
State income taxes for current year, net of federal income tax benefits(1)			3.8						4.3						4.6
Net income attributable to redeemable non-controlling interests			(1.2)						(1.0)						.7
Net excess tax benefits from stock-based compensation plans activity			(1.9)						(1.5)						(1.7)
Other items			.5						.4						.1
Effective income tax rate			22.2		%				23.2		%				25.8		%

(1) State income tax benefits are reflected in the total benefits for net income attributable to redeemable non-controlling interests and stock-based compensation plans activity.

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)			2020						2019
Deferred tax assets
Stock-based compensation			$	79.3					$	81.1
Asset impairments			7.4						10.3
Operating lease liabilities			34.9						33.9
Accrued compensation			7.5						5.3
Supplemental savings plan			160.9						117.6
Currency translation adjustment			.2						11.9
Other			13.5						15.4
			303.7						275.5
Deferred tax liabilities
Property and equipment			(64.9)						(49.3)
Operating lease assets			(34.9)						(33.9)
Net unrealized holding gains recognized in income			(130.9)						(93.1)
Net unrealized holding gains on investments held as available-for-sale			—						—
Other			(12.4)						(22.1)
			(243.1)						(198.4)
Net deferred tax asset			$	60.6					$	77.1

Schedule of unrecognized tax benefits

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

(in millions)			2020						2019						2018
Balance at beginning of year			$	23.9					$	16.1					$	7.6
Changes in tax positions related to
Current year			7.7						8.1						5.8
Prior years			(2.6)						.5						3.8
Expired statute of limitations			(2.3)						(.8)						(1.1)
Balance at end of year			$	26.7					$	23.9					$	16.1

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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 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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