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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2016
Income Tax Disclosure [Abstract] |
Components of Income Tax Expense (Benefit) | Components of current and deferred income tax expense (benefit) are as follows ($000’s omitted):
| 2016 |  | 2015 |  | 2014
Current expense (benefit) |  |  |  |  |
Federal | $ | 9,464 |  |  | $ | 8,760 |  |  | $ | 5,619 |
State and other | (13,104 | ) |  | 1,474 |  |  | (13,968 | )
| $ | (3,640 | ) |  | $ | 10,234 |  |  | $ | (8,349 | )
Deferred expense (benefit) |  |  |  |  |
Federal | $ | 312,288 |  |  | $ | 277,895 |  |  | $ | 232,969 |
State and other | 22,499 |  |  | 33,804 |  |  | (9,200 | )
| $ | 334,787 |  |  | $ | 311,699 |  |  | $ | 223,769 |
Income tax expense (benefit) | $ | 331,147 |  |  | $ | 321,933 |  |  | $ | 215,420 |
Effective Income Tax Rate Reconciliation | The following table reconciles the statutory federal income tax rate to the effective income tax rate:
| 2016 |  | 2015 |  | 2014
Income taxes at federal statutory rate | 35.0 | % |  | 35.0 | % |  | 35.0 | %
State and local income taxes, net of federal tax | 3.3 |  |  | 2.8 |  |  | 3.0 |
Deferred tax asset valuation allowance | (2.2 | ) |  | 0.4 |  |  | (6.6 | )
Tax contingencies | (1.3 | ) |  | 0.1 |  |  | (1.4 | )
Other | 0.7 |  |  | 1.2 |  |  | 1.2 |
Effective rate | 35.5 | % |  | 39.5 | % |  | 31.2 | %
Deferred Tax Assets and Liabilities | Components of our net deferred tax asset are as follows ($000’s omitted):
| At December 31,
| 2016 |  | 2015
Deferred tax assets: |  |  |
Accrued insurance | $ | 220,823 |  |  | $ | 237,836 |
Non-deductible reserves and other | 140,987 |  |  | 155,488 |
Inventory valuation reserves | 359,964 |  |  | 476,673 |
Net operating loss ("NOL") carryforwards: |  |  |
Federal | 187,817 |  |  | 367,302 |
State | 224,316 |  |  | 274,686 |
Alternative minimum tax credit carryforwards | 53,917 |  |  | 44,161 |
Energy and other credit carryforwards | 45,673 |  |  | 28,669 |
| 1,233,497 |  |  | 1,584,815 |
Deferred tax liabilities: |  |  |
Capitalized items, including real estate basis differences, deducted for tax, net | (82,445 | ) |  | (39,220 | )
Trademarks and tradenames | (36,781 | ) |  | (41,664 | )
| (119,226 | ) |  | (80,884 | )
Valuation allowance | (64,863 | ) |  | (109,052 | )
Net deferred tax asset | $ | 1,049,408 |  |  | $ | 1,394,879 |
Summary of Income Tax Contingencies | A reconciliation of the change in the unrecognized tax benefits is as follows ($000’s omitted):
| 2016 |  | 2015 |  | 2014
Unrecognized tax benefits, beginning of period | $ | 38,992 |  |  | $ | 32,911 |  |  | $ | 173,310 |
Increases related to tax positions taken during a prior period | 224 |  |  | 5,763 |  |  | — |
Decreases related to tax positions taken during a prior period | (13,218 | ) |  | — |  |  | (133,883 | )
Increases related to tax positions taken during the current period | 114 |  |  | 318 |  |  | 237 |
Decreases related to settlements with taxing authorities | (707 | ) |  | — |  |  | (6,753 | )
Reductions as a result of a lapse of the applicable statute of limitations | (3,903 | ) |  | — |  |  | — |
Unrecognized tax benefits, end of period | $ | 21,502 |  |  | $ | 38,992 |  |  | $ | 32,911 |

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319 + Details
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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32687-109319 + 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=65882285&loc=SL6600010-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32718-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32840-109319 + Details
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