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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2024
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, |  | 2024 |  | 2023 |  | 2022
Domestic |  | $ | 1,796,428 |  |  | $ | 1,832,771 |  | $ | 1,816,622
Foreign |  | 677,508 |  |  | 339,093 |  |  | 100,449 |
Income before income taxes |  | $ | 2,473,936 |  |  | $ | 2,171,864 |  | $ | 1,917,071
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, |  | 2024 |  | 2023 |  | 2022
Current: |  |  |  |  |  |
Federal |  | $ | 23,345 |  |  | $ | 141,753 |  |  | $ | 121,968 |
State |  | 85,746 |  |  | 83,802 |  |  | 85,741 |
Foreign |  | 70,371 |  |  | 68,289 |  |  | 27,656 |
|  | 179,462 |  |  | 293,844 |  |  | 235,365 |
Deferred: |  |  |  |  |  |
Federal |  | 21,223 |  |  | 28,191 |  |  | 34,848 |
State |  | 3,616 |  |  | (9,531) |  |  | 3,393 |
Foreign |  | 48,396 |  |  | (2,427) |  |  | (1,352) |
|  | 73,235 |  |  | 16,233 |  |  | 36,889 |
Total provision for income taxes |  | $ | 252,697 |  |  | $ | 310,077 |  |  | $ | 272,254 |
Schedule of Deferred Tax Asset and Liabilities | :
December 31, |  | 2024 |  | 2023
Deferred tax assets: |  |  |  |
Post-retirement benefit obligations |  | $ | 23,503 |  |  | $ | 24,969 |
Accrued expenses and other reserves |  | 83,263 |  |  | 85,601 |
Stock-based compensation |  | 16,656 |  |  | 21,656 |
Derivative instruments |  | — |  |  | 12,268 |
Lease liabilities |  | 98,915 |  |  | 90,405 |
Accrued trade promotion reserves |  | 18,706 |  |  | 18,796 |
Net operating loss carryforwards |  | 98,159 |  |  | 110,342 |
Capital loss carryforwards |  | 8,002 |  |  | — |
Other |  | 87,525 |  |  | 83,011 |
Gross deferred tax assets |  | 434,729 |  |  | 447,048 |
Valuation allowance |  | (117,239) |  |  | (114,149) |
Total deferred tax assets |  | 317,490 |  |  | 332,899 |
Deferred tax liabilities: |  |  |  |
Property, plant and equipment, net |  | 295,911 |  |  | 271,465 |
Acquired intangibles |  | 254,884 |  |  | 228,711 |
Lease ROU assets |  | 78,852 |  |  | 71,150 |
Inventories |  | 10,736 |  |  | 13,250 |
Derivative instruments |  | 37,558 |  |  | — |
Pension |  | 8,440 |  |  | 10,001 |
Other |  | 18,287 |  |  | 39,566 |
Total deferred tax liabilities |  | 704,668 |  |  | 634,143 |
Net deferred tax liabilities |  | $ | (387,178) |  |  | $ | (301,244) |
Included in: |  |  |  |
Non-current deferred tax assets, net |  | $ | 37,065 |  |  | $ | 44,454 |
Non-current deferred tax liabilities, net |  | (424,243) |  |  | (345,698) |
Net deferred tax liabilities |  | $ | (387,178) |  |  | $ | (301,244) |
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, |  | 2024 |  | 2023 |  | 2022
Federal statutory income tax rate |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Increase (reduction) resulting from: |  |  |  |  |  |
State income taxes, net of Federal income tax benefits |  | 2.4 |  |  | 2.8 |  |  | 3.2 |
Foreign rate differences |  | (1.2) |  |  | (1.0) |  |  | (0.1) |
Historic and solar tax credits |  | (9.4) |  |  | (9.5) |  |  | (9.9) |
Tax contingencies |  | (1.6) |  |  | 1.1 |  |  | 0.4 |
Stock compensation |  | (0.2) |  |  | (0.5) |  |  | (0.7) |
Other, net |  | (0.8) |  |  | 0.4 |  |  | 0.3 |
Effective income tax rate |  | 10.2 | % |  | 14.3 | % |  | 14.2 | %
Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
December 31, |  | 2024 |  | 2023
Balance at beginning of year |  | $ | 149,625 |  |  | $ | 148,345 |
Additions for tax positions taken during prior years |  | 7,207 |  |  | 11,567 |
Reductions for tax positions taken during prior years |  | (4,913) |  |  | (26) |
Additions for tax positions taken during the current year |  | 9,339 |  |  | 6,194 |
Settlements |  | (201) |  |  | (9,838) |
Expiration of statutes of limitations |  | (43,479) |  |  | (6,617) |
Balance at end of year |  | $ | 117,578 |  |  | $ | 149,625 |

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