XML 44 R32.htm IDEA: XBRL DOCUMENT v2.4.0.6

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2011

Income Taxes

Schedule of components of the provision for income taxes attributable to operations

		Year Ended December 31,
		2011			2010			2009
		(in millions)
Current:
Federal		$	153.1		$	40.3		$	(13.5	)
State			22.1			12.2			2.9
Foreign			14.4			3.4			(1.1	)
			189.6			55.9			(11.7	)
Deferred:
Federal			(24.1	)		34.0			60.0
State			(2.3	)		7.9			(3.1	)
Foreign			(0.8	)		0.8			1.1
			(27.2	)		42.7			58.0
		$	162.4		$	98.6		$	46.3

Components of U.S. and international income (loss) before income taxes

		Year Ended December 31,
		2011			2010			2009
					(in millions)
U.S.		$	452.0		$	275.8		$	201.7
International			59.6			20.7			(6.2	)
Income before income taxes		$	511.6		$	296.5		$	195.5

Schedule of reconciliation of income tax at the U.S. federal statutory tax rates to income tax expense

		Year Ended December 31,
		2011			2010			2009
Income tax at U.S. federal statutory tax rate			35.0	%		35.0	%		35.0	%
State income tax, net of federal tax effect			2.4			3.9			(0.6	)
Net effect of life insurance policies			(2.3	)		(2.6	)		(6.3	)
Net effect of changes in unrecognized tax benefits			—			(0.1	)		(5.8	)
Domestic production activity deduction			(1.5	)		(1.2	)		—
Other, net			(1.9	)		(1.7	)		1.4
Effective tax rate			31.7	%		33.3	%		23.7	%

Schedule of components of the Company's deferred tax assets and liabilities

		December 31,
		2011			2010
		(in millions)
Deferred tax assets:
Accrued expenses not currently deductible for tax		$	45.7		$	35.8
Inventory costs capitalized for tax purposes			24.7			13.0
Allowance for doubtful accounts			9.3			7.5
Tax credit carryforwards			1.1			1.1
Net operating loss carryforwards			3.1			3.2
Other			24.1			14.5
Total deferred tax assets			108.0			75.1
Deferred tax liabilities:
Property, plant and equipment, net			(154.1	)		(134.8	)
Goodwill and other intangible assets			(342.9	)		(284.7	)
LIFO inventories			(17.5	)		(36.9	)
Other			—			(0.9	)
Total deferred tax liabilities			(514.5	)		(457.3	)
Net deferred tax liabilities		$	(406.5	)	$	(382.2	)

Schedule of reconciliation of the beginning and ending balances of the total amounts of unrecognized tax benefits

		Year Ended December 31,
		2011			2010			2009
					(in millions)
Unrecognized tax benefits at January 1		$	15.4		$	15.5		$	23.4
Increases in tax positions for prior years			1.3			0.3			2.8
Decreases in tax positions for prior years			(0.2	)		(0.9	)		(3.6	)
Increases in tax positions for current year			3.7			3.0			2.9
Settlements			(0.1	)		(0.3	)		(1.3	)
Lapses in statutes-of-limitation periods			(4.0	)		(2.2	)		(8.7	)
Unrecognized tax benefits at December 31		$	16.1		$	15.4		$	15.5

X

- Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

-Topic 740

-SubTopic 10

-Publisher FASB

-Number

-Article

-Subparagraph

-Name Accounting Standards Codification

-Paragraph 9

-Section 50

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

-Topic 740

-SubTopic 10

-Publisher FASB

-Number

-Article

-Subparagraph

-Name Accounting Standards Codification

-Paragraph 2

-Section 50

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

-Topic 740

-SubTopic 10

-Publisher FASB

-Number

-Article

-Subparagraph

-Name Accounting Standards Codification

-Paragraph 12

-Section 50

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of 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 (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Interpretation (FIN)

-Number 48

-Paragraph 21

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 15

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319

+ Details

Name:	us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration