XML 25 R10.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Income Taxes | 12 Months Ended
--- | ---
Dec. 31, 2017
Income Tax Disclosure [Abstract] |
Income Taxes | Note 4. Income Taxes The Tax Cuts and Jobs Act (the "Tax Act") was enacted on December 22, 2017. The Tax Act reduces the U.S. federal corporate income tax rate from 35% to 21% and makes several other changes to long-held tax rules. We have not completed our accounting for the tax effects of the Tax Act; however, we have made a reasonable estimate of the effects of the Tax Act on our deferred tax balances and have remeasured them based upon the rates at which they are expected to reverse in the future. We have recognized a provisional income tax benefit of $104.9 million in our provision for income taxes in the current year ended December 31, 2017. We will continue to refine our estimates related to the Tax Act as clarifying guidance and interpretations are issued and our 2017 tax returns are completed. The components of the provision for income taxes are as follows:
|  | Year Ended December 31,
(In thousands) |  | 2017 |  | 2016 |  | 2015
Current: |  |  |  |  |  |
Federal |  | $ | 169,053 |  |  | $ | 126,903 |  |  | $ | 120,437 |
State |  | 25,644 |  |  | 20,111 |  |  | 21,248 |
|  | 194,697 |  |  | 147,014 |  |  | 141,685 |
Deferred: |  |  |  |  |  |
Federal |  | (81,551 | ) |  | 29,354 |  |  | 38,549 |
State |  | (1,088 | ) |  | 5,454 |  |  | 5,093 |
|  | (82,639 | ) |  | 34,808 |  |  | 43,642 |
Total provision for income taxes |  | $ | 112,058 |  |  | $ | 181,822 |  |  | $ | 185,327 |
The following is a reconciliation of income tax expense calculated using the U.S. statutory federal income tax rate with our income tax expense for 2017, 2016 and 2015:
|  | Year Ended December 31,
(In thousands) |  | 2017 |  | 2016 |  | 2015
Tax provision at statutory rate |  | $ | 201,541 |  |  | $ | 167,156 |  |  | $ | 171,506 |
State income taxes, net of federal benefit |  | 20,277 |  |  | 16,711 |  |  | 17,097 |
Revaluation of deferred taxes in connection with the Tax Act |  | (104,864 | ) |  | — |  |  | — |
Other, net |  | (4,896 | ) |  | (2,045 | ) |  | (3,276 | )
Total provision for income taxes |  | $ | 112,058 |  |  | $ | 181,822 |  |  | $ | 185,327 |
Deferred tax assets and liabilities, which are included in "Other assets" and "Deferred income taxes" on our Balance Sheets, consist of the following:
|  | December 31,
(In thousands) |  | 2017 |  | 2016
Deferred tax assets: |  |  |  |
Claims and insurance reserves |  | $ | 29,008 |  |  | $ | 43,409 |
Accrued vacation |  | 17,832 |  |  | 24,227 |
Deferred compensation |  | 29,220 |  |  | 40,742 |
Other |  | 15,157 |  |  | 11,593 |
Total deferred tax assets |  | 91,217 |  |  | 119,971 |
Deferred tax liabilities: |  |  |  |
Depreciation and amortization |  | (266,730 | ) |  | (376,034 | )
Unrecognized revenue |  | (10,007 | ) |  | (11,465 | )
Other |  | (1,703 | ) |  | (2,334 | )
Total deferred tax liabilities |  | (278,440 | ) |  | (389,833 | )
Net deferred tax liability |  | $ | (187,223 | ) |  | $ | (269,862 | )
As of December 31, 2017, the Company had various state tax credit carryforwards of approximately $4.2 million that are scheduled to expire in one to 14 years. We are subject to U.S. federal income tax, as well as income tax of multiple state tax jurisdictions. We remain open to examination by the Internal Revenue Service for tax years 2012 through 2017. We also remain open to examination by various state tax jurisdictions for tax years 2012 through 2017. The Company's liability for unrecognized tax benefits was immaterial as of December 31, 2017 and 2016. Interest and penalties related to uncertain tax positions, which are immaterial, are recorded in our "Provision for income taxes" on our Statements of Operations. Changes in our liability for unrecognized tax benefits could affect our effective tax rate, if recognized, but we do not expect any material changes within the next twelve months.

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration