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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule Of Earnings Before Provision For Income Taxes And Discontinued Operations | Income taxes have been based on the following components of earnings before provision for income taxes in the Consolidated Statements of Earnings:
| Years Ended December 31,
| 2021 |  | 2020 |  | 2019
Domestic | $ | 835,773 |  |  | $ | 464,145 |  |  | $ | 448,301 |
Foreign | 565,053 |  |  | 377,589 |  |  | 394,708 |
Total | $ | 1,400,826 |  |  | $ | 841,734 |  |  | $ | 843,009 |
Schedule of Components of Income Tax Expense (Benefit) | Income tax expense (benefit) for the years ended December 31, 2021, 2020 and 2019 is comprised of the following:
| Years Ended December 31,
| 2021 |  | 2020 |  | 2019
Current: |  |  |  |  |
U.S. federal | $ | 150,990 |  |  | $ | 79,305 |  |  | $ | 71,069 |
State and local | 28,106 |  |  | 13,312 |  |  | 16,709 |
Foreign | 154,147 |  |  | 97,106 |  |  | 102,284 |
Total current | 333,243 |  |  | 189,723 |  |  | 190,062 |
Deferred: |  |  |  |  |
U.S. federal | (14,143) |  |  | 2,777 |  |  | (6,033) |
State and local | 3,165 |  |  | (10,526) |  |  | 1,770 |
Foreign | (45,257) |  |  | (23,691) |  |  | (20,708) |
Total deferred | (56,235) |  |  | (31,440) |  |  | (24,971) |
Total expense | $ | 277,008 |  |  | $ | 158,283 |  |  | $ | 165,091 |
Schedule of Effective Income Tax Rate Reconciliation | Differences between the effective income tax rate and the U.S. federal income statutory tax rate are as follows:
| Years Ended December 31,
| 2021 |  | 2020 |  | 2019
U.S. federal income tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State and local taxes, net of federal income tax benefit | 1.8 |  |  | 1.7 |  |  | 1.7 |
Foreign operations tax effect | (0.2) |  |  | (0.8) |  |  | (1.3) |
Foreign tax credits | — |  |  | — |  |  | (0.1) |
Foreign-derived intangible income | (0.8) |  |  | (1.1) |  |  | (1.0) |
Share awards | (0.8) |  |  | (1.2) |  |  | (1.7) |
Dispositions | 0.3 |  |  | — |  |  | 1.2 |
Audit resolutions | (1.4) |  |  | (0.9) |  |  | 0.3 |
Other | (0.1) |  |  | 0.1 |  |  | (0.5) |
Effective tax rate | 19.8 | % |  | 18.8 | % |  | 19.6 | %
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to deferred tax assets and liabilities are as follows:
| December 31, 2021 |  | December 31, 2020
Deferred Tax Assets: |  |  |
Accrued compensation, principally postretirement and other employee benefits | $ | 61,388 |  |  | $ | 60,797 |
Accrued expenses, principally for state income taxes, interest and warranty | 30,143 |  |  | 32,418 |
Net operating loss and other carryforwards | 334,483 |  |  | 319,291 |
Inventories, principally due to reserves for financial reporting purposes and capitalization for tax purposes | 28,698 |  |  | 23,723 |
Accounts receivable, principally due to allowance for doubtful accounts | 9,988 |  |  | 7,118 |
Accrued insurance | 4,708 |  |  | 4,165 |
Long-term liabilities, principally warranty, environmental and exit costs | 3,043 |  |  | 2,273 |
Lease obligations | 41,653 |  |  | 40,984 |
Total gross deferred tax assets | 514,104 |  |  | 490,769 |
Valuation allowance | (306,066) |  |  | (287,679) |
Total deferred tax assets, net of valuation allowances | $ | 208,038 |  |  | $ | 203,090 |
Deferred Tax Liabilities: |  |  |
Intangible assets, principally due to different tax and financial reporting bases and amortization lives | $ | (392,208) |  |  | $ | (387,897) |
Property, plant and equipment, principally due to differences in depreciation | (77,918) |  |  | (62,667) |
Lease right-of-use assets | (40,181) |  |  | (38,742) |
Other liabilities | (28,786) |  |  | 9,992 |
Total gross deferred tax liabilities | (539,093) |  |  | (479,314) |
Net deferred tax liability | $ | (331,055) |  |  | $ | (276,224) |
Classified as follows in the Consolidated Balance Sheets: |  |  |
Other assets and deferred charges | $ | 33,062 |  |  | $ | 22,199 |
Deferred income taxes | (364,117) |  |  | (298,423) |
| $ | (331,055) |  |  | $ | (276,224) |
Schedule Of Unrecognized Tax Benefits | The following table is a reconciliation of the beginning and ending balances of the Company’s unrecognized tax benefits:
|  |  |  |  | Total
Unrecognized tax benefits at January 1, 2019 |  |  |  |  | $ | 93,461 |
Additions based on tax positions related to the current year |  |  |  |  | 4,493 |
Additions for tax positions of prior years |  |  |  |  | 6,668 |
Reductions for tax positions of prior years |  |  |  |  | (9,217) |
Cash settlements |  |  |  |  | (922) |
Lapse of statutes |  |  |  |  | (11,269) |
Unrecognized tax benefits at December 31, 2019 |  |  |  |  | 83,214 |
Additions based on tax positions related to the current year |  |  |  |  | 3,134 |
Additions for tax positions of prior years |  |  |  |  | 5,490 |
Reductions for tax positions of prior years |  |  |  |  | (3,599) |
Cash settlements |  |  |  |  | (6,214) |
Lapse of statutes |  |  |  |  | (9,687) |
Unrecognized tax benefits at December 31, 2020 (1) |  |  |  |  | 72,338 |
Additions based on tax positions related to the current year |  |  |  |  | 5,859 |
Additions for tax positions of prior years |  |  |  |  | 3,784 |
Reductions for tax positions of prior years |  |  |  |  | (13,008) |
Cash settlements |  |  |  |  | (1,490) |
Lapse of statutes |  |  |  |  | (2,831) |
Unrecognized tax benefits at December 31, 2021 (1) |  |  |  |  | $ | 64,652 |
(1) If recognized, the net amount of potential tax benefits that would impact the Company’s effective tax rate is $58.0 million. During the years ended December 31, 2021, 2020 and 2019, the Company recorded income of $2.7 million, $0.1 million and $0.6 million, respectively, as a component of provision for income taxes related to the accrued interest and penalties on net reductions to unrecognized tax benefits. The Company had accrued interest and penalties of $15.1 million at December 31, 2021 and $17.8 million at December 31, 2020, which are not included in the above table.

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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=121826272&loc=d3e32639-109319 + Details
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