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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) Before Income Taxes

The components of income before income taxes were as follows:

For the years ended December 31,						2023						2022						2021
Domestic						$	1,832,771					$	1,816,622					$	1,775,361
Foreign						339,093						100,449						21,863
Income before income taxes						$	2,171,864					$	1,917,071					$	1,797,224

Schedule of Components of Income Tax Expense (Benefit)

The components of our provision for income taxes were as follows:

For the years ended December 31,						2023						2022						2021
Current:
Federal						$	141,753					$	121,968					$	161,402
State						83,802						85,741						60,979
Foreign						68,289						27,656						78,650
						293,844						235,365						301,031
Deferred:
Federal						28,191						34,848						26,726
State						(9,531)						3,393						8,253
Foreign						(2,427)						(1,352)						(21,605)
						16,233						36,889						13,374
Total provision for income taxes						$	310,077					$	272,254					$	314,405

Schedule of Deferred Tax Asset and Liabilities

:

December 31,						2023						2022
Deferred tax assets:
Post-retirement benefit obligations						$	24,969					$	40,100
Accrued expenses and other reserves						85,601						78,523
Stock-based compensation						21,656						19,847
Derivative instruments						12,268						3,983
Lease liabilities						90,405						91,099
Accrued trade promotion reserves						18,796						23,082
Net operating loss carryforwards						110,342						130,944
Capital loss carryforwards						—						1,999
Other						83,011						52,802
Gross deferred tax assets						447,048						442,379
Valuation allowance						(114,149)						(137,531)
Total deferred tax assets						332,899						304,848
Deferred tax liabilities:
Property, plant and equipment, net						271,465						247,964
Acquired intangibles						228,711						193,160
Lease ROU assets						71,150						72,602
Inventories						13,250						28,573
Pension						10,001						11,038
Other						39,566						39,416
Total deferred tax liabilities						634,143						592,753
Net deferred tax liabilities						$	(301,244)					$	(287,905)
Included in:
Non-current deferred tax assets, net						$	44,454					$	40,498
Non-current deferred tax liabilities, net						(345,698)						(328,403)
Net deferred tax liabilities						$	(301,244)					$	(287,905)

Schedule of Effective Income Tax Rate Reconciliation

The following table reconciles the federal statutory income tax rate with our effective income tax rate:

For the years ended December 31,						2023						2022						2021
Federal statutory income tax rate						21.0		%				21.0		%				21.0		%
Increase (reduction) resulting from:
State income taxes, net of Federal income tax benefits						2.8						3.2						2.8
Foreign rate differences						(1.0)						(0.1)						(0.2)
Historic and solar tax credits						(9.5)						(9.9)						(6.2)
Tax contingencies						1.1						0.4						1.7
Stock compensation						(0.5)						(0.7)						(0.5)
Other, net						0.4						0.3						(1.1)
Effective income tax rate						14.3		%				14.2		%				17.5		%

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

December 31,						2023						2022
Balance at beginning of year						$	148,345					$	143,305
Additions for tax positions taken during prior years						11,567						17,987
Reductions for tax positions taken during prior years						(26)						(9,310)
Additions for tax positions taken during the current year						6,194						4,112
Settlements						(9,838)						—
Expiration of statutes of limitations						(6,617)						(7,749)
Balance at end of year						$	149,625					$	148,345

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