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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2020
Income Tax Disclosure [Abstract] |
Earnings Before Income Taxes | Earnings before income taxes were derived from the following sources:
| 2020 |  | 2019 |  | 2018
Domestic | $ | 1,046.7 |  |  | 977.6 |  |  | 905.0 |
Foreign | 86.0 |  |  | 66.1 |  |  | 82.0 |
Earnings before income taxes | $ | 1,132.7 |  |  | 1,043.7 |  |  | 987.0 |
Components of Income Tax Expense (Benefit) | Components of income tax expense (benefit) were as follows:
2020: | Current |  | Deferred |  | Total
Federal | $ | 195.4 |  |  | 1.8 |  |  | 197.2 |
State | 47.5 |  |  | (0.5) |  |  | 47.0 |
Foreign | 28.1 |  |  | 1.3 |  |  | 29.4 |
Income tax expense | $ | 271.0 |  |  | 2.6 |  |  | 273.6 |
2019: | Current |  | Deferred |  | Total
Federal | $ | 177.4 |  |  | 11.3 |  |  | 188.7 |
State | 41.6 |  |  | 0.2 |  |  | 41.8 |
Foreign | 22.1 |  |  | 0.2 |  |  | 22.3 |
Income tax expense | $ | 241.1 |  |  | 11.7 |  |  | 252.8 |
2018: | Current |  | Deferred |  | Total
Federal | $ | 143.8 |  |  | 27.4 |  |  | 171.2 |
State | 38.8 |  |  | 0.2 |  |  | 39.0 |
Foreign | 24.1 |  |  | 0.8 |  |  | 24.9 |
Income tax expense | $ | 206.7 |  |  | 28.4 |  |  | 235.1 |
Difference In Income Tax Expense And Expected Expense | Income tax expense in the accompanying consolidated financial statements differed from the expected expense as follows:
| 2020 |  | 2019 |  | 2018
U.S. federal statutory income tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
U.S. federal income tax expense at statutory rate | $ | 237.9 |  |  | 219.2 |  |  | 207.3 |
Increase (decrease) attributed to: |  |  |  |  |
State income taxes, net of federal benefit | 36.3 |  |  | 32.8 |  |  | 30.2 |
Transition tax | — |  |  | — |  |  | 1.2 |
Remeasurement of deferred taxes for Tax Act | — |  |  | — |  |  | (11.5) |
Other, net | (0.6) |  |  | 0.8 |  |  | 7.9 |
Total income tax expense | $ | 273.6 |  |  | 252.8 |  |  | 235.1 |
Effective income tax rate | 24.2 | % |  | 24.2 | % |  | 23.8 | %
Summary of Temporary Differences That Give Rise to Deferred Income Tax Assets And Liabilities | The tax effects of temporary differences that give rise to deferred income tax assets and liabilities at year end consisted of the following:
| 2020 |  | 2019
Deferred income tax assets (liabilities): |  |  |
Inventory costing and valuation methods | $ | 5.3 |  |  | 4.3 |
Allowance for credit losses | 3.1 |  |  | 2.7 |
Insurance reserves | 9.1 |  |  | 9.1 |
Customer promotions | 2.4 |  |  | 1.9 |
Stock-based compensation | 3.3 |  |  | 3.9 |
Operating lease liabilities | 62.1 |  |  | 62.5 |
Federal and state benefit of uncertain tax positions | 0.8 |  |  | 0.8 |
Foreign net operating loss and credit carryforwards | 1.9 |  |  | 3.2 |
Foreign valuation allowances | (2.2) |  |  | (2.8) |
Other, net | (0.3) |  |  | (0.0) |
Total deferred income tax assets | 85.5 |  |  | 85.6 |
Property and equipment | (117.6) |  |  | (114.7) |
Operating lease ROU assets | (61.4) |  |  | (61.7) |
Total deferred income tax liabilities | (179.0) |  |  | (176.4) |
Deferred income tax liabilities | $ | (93.5) |  |  | (90.8) |
Reconciliation of The Beginning and Ending Amount of Total Gross Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of total gross unrecognized tax benefits was as follows:
| 2020 |  | 2019
Balance at beginning of year: | $ | 8.6 |  |  | 5.3 |
Increase related to prior year tax positions | 0.2 |  |  | 0.2 |
Decrease related to prior year tax positions | (0.1) |  |  | (0.2) |
Increase related to current year tax positions | 0.8 |  |  | 4.7 |
Decrease related to statute of limitation lapses | (0.7) |  |  | (1.4) |
Settlements | — |  |  | — |
Balance at end of year: | $ | 8.8 |  |  | 8.6 |

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- Definition 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319 + Details
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