XML 102 R38.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Income Taxes |
Schedule of components of the provision for income taxes attributable to continuing operations | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Year Ended December 31,
​ | 2019 |  | 2018 |  | 2017
​ | (in millions)
Current: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | $ | 136.3 | ​ | $ | 150.6 | ​ | $ | 117.8
State | ​ | 37.9 | ​ | ​ | 47.6 | ​ | ​ | 21.5
Foreign | ​ | 16.5 | ​ | ​ | 19.7 | ​ | ​ | 16.1
​ | ​ | 190.7 | ​ | ​ | 217.9 | ​ | ​ | 155.4
Deferred: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ | 26.9 | ​ | ​ | (6.0) | ​ | ​ | (202.8)
State | ​ | 7.2 | ​ | ​ | (2.3) | ​ | ​ | 11.1
Foreign | ​ | (1.6) | ​ | ​ | (0.8) | ​ | ​ | (0.9)
​ | ​ | 32.5 | ​ | ​ | (9.1) | ​ | ​ | (192.6)
​ | $ | 223.2 | ​ | $ | 208.8 | ​ | $ | (37.2)
Components of U.S. and international income before income taxes | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Year Ended December 31,
​ | 2019 |  | 2018 |  | 2017
​ | (in millions)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. | $ | 877.4 | ​ | $ | 775.2 | ​ | $ | 524.6
International | ​ | 51.9 | ​ | ​ | 75.4 | ​ | ​ | 59.2
Income before income taxes | $ | 929.3 | ​ | $ | 850.6 | ​ | $ | 583.8
Schedule of reconciliation of income tax at the U.S. federal statutory tax rates to income tax expense | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Year Ended December 31, | ​
​ | 2019 |  | 2018 |  | 2017 | ​
Income tax at U.S. federal statutory tax rate | 21.0 | % | 21.0 | % | 35.0 | %
Tax Reform | — | ​ | 0.4 | ​ | (35.5) | ​
State income tax, net of federal tax effect | 3.6 | ​ | 3.6 | ​ | 3.8 | ​
Foreign earnings taxed at higher (lower) rates | 0.4 | ​ | 0.4 | ​ | (0.7) | ​
Net effect of life insurance policies | (1.5) | ​ | (1.5) | ​ | (3.6) | ​
Net effect of changes in unrecognized tax benefits | — | ​ | (0.2) | ​ | (0.2) | ​
Stock-based compensation | 0.7 | ​ | 0.6 | ​ | (0.2) | ​
Domestic production activity deduction | — | ​ | — | ​ | (1.6) | ​
Loss on sale of assets | — | ​ | — | ​ | (0.8) | ​
Other, net | (0.2) | ​ | 0.2 | ​ | (2.6) | ​
Effective tax rate | 24.0 | % | 24.5 | % | (6.4) | %
Schedule of components of the Company's deferred tax assets and liabilities | ​
​ | ​ | ​ | ​ | ​ | ​
​ | December 31,
​ | 2019 |  | 2018
​ | (in millions)
Deferred tax assets: | ​ | ​ | ​ | ​ | ​
Accrued expenses not currently deductible for tax | $ | 31.6 | ​ | $ | 26.0
Inventory costs capitalized for tax purposes | ​ | 13.1 | ​ | ​ | 27.1
Stock-based compensation | ​ | 8.2 | ​ | ​ | 7.2
Allowance for doubtful accounts | ​ | 4.9 | ​ | ​ | 5.4
Tax credits carryforwards | ​ | 1.4 | ​ | ​ | 1.0
Net operating loss carryforwards | ​ | 4.2 | ​ | ​ | 6.0
Total deferred tax assets | ​ | 63.4 | ​ | ​ | 72.7
Deferred tax liabilities: | ​ | ​ | ​ | ​ | ​
Property, plant and equipment, net | ​ | (189.1) | ​ | ​ | (175.4)
Goodwill and other intangible assets | ​ | (311.6) | ​ | ​ | (308.8)
LIFO inventories | ​ | (23.2) | ​ | ​ | (21.1)
Other | ​ | (8.8) | ​ | ​ | (7.5)
Total deferred tax liabilities | ​ | (532.7) | ​ | ​ | (512.8)
Net deferred tax liabilities | $ | (469.3) | ​ | $ | (440.1)
Schedule of reconciliation of the beginning and ending balances of the total amounts of unrecognized tax benefits | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Year Ended December 31,
​ | 2019 |  | 2018 |  | 2017
​ | (in millions)
Unrecognized tax benefits at January 1 | $ | 2.4 | ​ | $ | 4.1 | ​ | $ | 5.2
Increases in tax positions for prior years | ​ | 0.8 | ​ | ​ | 0.4 | ​ | ​ | —
Decreases in tax positions for prior years | ​ | — | ​ | ​ | — | ​ | ​ | (0.1)
Settlements | ​ | (0.7) | ​ | ​ | — | ​ | ​ | (0.2)
Lapse of statute of limitations | ​ | (0.3) | ​ | ​ | (2.1) | ​ | ​ | (0.8)
Unrecognized tax benefits at December 31 | $ | 2.2 | ​ | $ | 2.4 | ​ | $ | 4.1

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 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=84230637&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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)(1)(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319 + Details
Name: | us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration