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Income Taxes | 12 Months Ended
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Dec. 31, 2011
Income Taxes [Abstract] |
Income Taxes |
10. | Income Taxes
Pretax income for 2011, 2010 and 2009 was taxed in the following jurisdictions:
|  | 2011 |  |  | 2010 |  |  | 2009 |
|  | (In thousands) |
Domestic |  | $ | 192,857 |  |  | $ | 161,573 |  |  | $ | 114,389 |
Foreign |  |  | 81,024 |  |  |  | 70,301 |  |  |  | 54,438 |
Total |  | $ | 273,881 |  |  | $ | 231,874 |  |  | $ | 168,827 |
The provision (benefit) for income taxes for 2011, 2010, and 2009, was as follows:
|  | 2011 |  |  | 2010 |  |  | 2009 |
|  | (In thousands) |
Current |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 48,823 |  |  | $ | 59,384 |  |  | $ | 34,921 |
State and local |  |  | 3,434 |  |  |  | 4,548 |  |  |  | 2,704 |
Foreign |  |  | 31,343 |  |  |  | 18,178 |  |  |  | 16,730 |
Total current |  |  | 83,600 |  |  |  | 82,110 |  |  |  | 54,355 |
Deferred |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  |  | 4,792 |  |  |  | (6,550 | ) |  |  | 1,658 |
State and local |  |  | (1,103 | ) |  |  | (293 | ) |  |  | 110 |
Foreign |  |  | (7,265 | ) |  |  | (493 | ) |  |  | (687 | )
Total deferred |  |  | (3,576 | ) |  |  | (7,336 | ) |  |  | 1,081 |
Total provision for income taxes |  | $ | 80,024 |  |  | $ | 74,774 |  |  | $ | 55,436 |
Deferred tax assets (liabilities) at December 31, 2011 and 2010 were:
|  | 2011 |  |  | 2010 |
|  | (In thousands) |
Employee and retiree benefit plans |  | $ | 38,626 |  |  | $ | 17,764 |
Depreciation and amortization |  |  | (213,002 | ) |  |  | (179,889 | )
Inventories |  |  | 10,274 |  |  |  | 6,934 |
Allowances and accruals |  |  | 14,103 |  |  |  | 16,690 |
Interest rate exchange agreement |  |  | 23,714 |  |  |  | 11,995 |
Other |  |  | 10,033 |  |  |  | 1,617 |
Total |  | $ | (116,252 | ) |  | $ | (124,889 | )
The deferred tax assets and liabilities recognized in the Company's Consolidated Balance Sheets as of December 31, 2011 and 2010 were:
|  | 2011 |  |  | 2010 |
|  | (In thousands) |
Deferred tax asset — other current assets |  | $ | 26,037 |  |  | $ | 23,829 |
Deferred tax asset — other noncurrent assets |  |  | 360 |  |  |  | 539 |
Total deferred tax assets |  |  | 26,397 |  |  |  | 24,368 |
Deferred tax liability — accrued expenses |  |  | (167 | ) |  |  | (723 | )
Noncurrent deferred tax liability — deferred income taxes |  |  | (142,482 | ) |  |  | (148,534 | )
Total deferred tax liabilities |  |  | (142,649 | ) |  |  | (149,257 | )
Net deferred tax liabilities |  | $ | (116,252 | ) |  | $ | (124,889 | )
The provision for income taxes differs from the amount computed by applying the statutory federal income tax rate to pretax income. The computed amount and the differences for 2011, 2010, and 2009 are shown in the following table:
|  | 2011 |  |  | 2010 |  |  | 2009 |
|  | (In thousands) |
Pretax income |  | $ | 273,881 |  |  | $ | 231,874 |  |  | $ | 168,827 |
Provision for income taxes: |  |  |  |  |  |  |  |  |  |  |  |
Computed amount at statutory rate of 35% |  | $ | 95,858 |  |  | $ | 81,156 |  |  | $ | 59,089 |
State and local income tax (net of federal tax benefit) |  |  | 1,515 |  |  |  | 2,766 |  |  |  | 1,829 |
Taxes on non-U.S. earnings-net of foreign tax credits |  |  | (4,522 | ) |  |  | (8,545 | ) |  |  | (4,117 | )
Effect of flow-through entities |  |  | (6,922 | ) |  |  | (516 | ) |  |  | (535 | )
U.S. business tax credits |  |  | (917 | ) |  |  | (935 | ) |  |  | (754 | )
Domestic activities production deduction |  |  | (4,589 | ) |  |  | (4,720 | ) |  |  | (1,925 | )
Other |  |  | (399 | ) |  |  | 5,568 |  |  |  | 1,849 |
Total provision for income taxes |  | $ | 80,024 |  |  | $ | 74,774 |  |  | $ | 55,436 |
The Company has not provided an estimate for any U.S. or additional foreign taxes on undistributed earnings of foreign subsidiaries that might be payable if these earnings were repatriated since the Company considers these amounts to be permanently invested. A reconciliation of the beginning and ending amount of unrecognized tax benefits for 2011, 2010 and 2009 are shown in the following table:
|  | 2011 |  |  | 2010 |  |  | 2009 |
|  | (In thousands) |
Beginning balance January 1 |  | $ | 6,440 |  |  | $ | 5,285 |  |  | $ | 4,009 |
Gross increases for tax positions of prior years |  |  | 1,828 |  |  |  | 3,049 |  |  |  | 2,138 |
Gross decreases for tax positions of prior years |  |  | (1,595 | ) |  |  | (675 | ) |  |  | — |
Settlements |  |  | (338 | ) |  |  | (517 | ) |  |  | (628 | )
Lapse of statute of limitations |  |  | (787 | ) |  |  | (702 | ) |  |  | (234 | )
Ending balance December 31 |  | $ | 5,548 |  |  | $ | 6,440 |  |  | $ | 5,285 |
We recognize interest and penalties related to uncertain tax positions in income tax expense. As of December 31, 2011, 2010 and 2009 we had approximately $0.5 million, $0.8 million and $0.9 million, respectively, of accrued interest related to uncertain tax positions. As of December 31, 2011, 2010 and 2009 we had approximately $0.2 million, $0.4 million and $0.2 million, respectively, of accrued penalties related to uncertain tax positions. The total amount of unrecognized tax benefits that would affect our effective tax rate if recognized is $5.0 million, $5.8 million and $4.4 million as of December 31, 2011, December 31, 2010 and December 31, 2009, respectively. The tax years 2006-2010 remain open to examination by major taxing jurisdictions. Due to the potential for resolution of federal, state and foreign examinations, and the expiration of various statutes of limitation, it is reasonably possible that the Company's gross unrecognized tax benefits balance may change within the next 12 months by a range of zero to $1.1 million. The Company had net operating loss carry forwards for U.S. federal purposes at December 31, 2011 and 2010 of $14.0 and $3.5 million, respectively. For non-U.S. purposes, the Company had net operating loss carry forwards at December 31, 2011 and 2010 of $12.4 and $13.7 million, respectively. The federal net operating loss carry forwards are available for use against the Company's consolidated federal taxable income and expire between 2019 and 2030. The entire balance of the non-U.S. net operating losses are available to be carried forward, with $0.7 million of these losses beginning to expire during the years 2018 through 2020. The remaining $11.5 million of such losses can be carried forward indefinitely. At December 31, 2011 and 2010, the Company had a foreign capital loss carry forward of approximately $1.1 million and $1.3 million respectively. The foreign capital loss can be carried forward indefinitely. At December 31, 2011 and 2010, the Company has a valuation allowance against the deferred tax asset attributable to the foreign capital loss of $0.2 million and $0.4 million, respectively. At December 31, 2011 and 2010, the Company had state net operating loss and credit carry forwards of approximately $18.0 million and $18.7 million, respectively. If unutilized, the state net operating loss will expire between 2016 and 2030. At December 31, 2011 and 2010, the Company recorded a valuation allowance against the deferred tax asset attributable to the state net operating loss of $0.3 million and $0.4 million, respectively.

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- 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 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 136, 172 -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 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 43, 44, 45, 46, 47, 48, 49 -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 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 Reference 6: 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=6907707&loc=d3e32639-109319 Reference 7: 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 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 + Details
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