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Income Taxes | 12 Months Ended
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Dec. 31, 2013
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes Pretax income for 2013, 2012 and 2011 was taxed in the following jurisdictions:
| 2013 |  | 2012 |  | 2011
| (In thousands)
Domestic | $ | 233,530 |  |  | $ | 65,738 |  |  | $ | 192,857 |
Foreign | 119,599 |  |  | 20,466 |  |  | 81,024 |
Total | $ | 353,129 |  |  | $ | 86,204 |  |  | $ | 273,881 |
The provision (benefit) for income taxes for 2013, 2012 and 2011, was as follows:
| 2013 |  | 2012 |  | 2011
| (In thousands)
Current |  |  |  |  |
U.S. | $ | 59,707 |  |  | $ | 59,811 |  |  | $ | 48,823 |
State and local | 8,123 |  |  | 5,764 |  |  | 3,434 |
Foreign | 33,240 |  |  | 20,228 |  |  | 31,343 |
Total current | 101,070 |  |  | 85,803 |  |  | 83,600 |
Deferred |  |  |  |  |
U.S. | 1,500 |  |  | (31,246 | ) |  | 4,792 |
State and local | (55 | ) |  | (2,377 | ) |  | (1,103 | )
Foreign | (4,601 | ) |  | (3,606 | ) |  | (7,265 | )
Total deferred | (3,156 | ) |  | (37,229 | ) |  | (3,576 | )
Total provision for income taxes | $ | 97,914 |  |  | $ | 48,574 |  |  | $ | 80,024 |
Deferred tax assets (liabilities) at December 31, 2013 and 2012 were:
| 2013 |  | 2012
| (In thousands)
Employee and retiree benefit plans | $ | 27,361 |  |  | $ | 38,401 |
Depreciation and amortization | (175,894 | ) |  | (170,630 | )
Inventories | 9,627 |  |  | 10,851 |
Allowances and accruals | 9,632 |  |  | 7,629 |
Interest rate exchange agreement | 18,165 |  |  | 20,856 |
Other | 4,636 |  |  | 7,059 |
Total | $ | (106,473 | ) |  | $ | (85,834 | )
The deferred tax assets and liabilities recognized in the Company’s Consolidated Balance Sheets as of December 31, 2013 and 2012 were:
| 2013 |  | 2012
| (In thousands)
Deferred tax asset — other current assets | $ | 34,151 |  |  | $ | 32,293 |
Deferred tax asset — other noncurrent assets | 4,284 |  |  | 3,222 |
Total deferred tax assets | 38,435 |  |  | 35,515 |
Deferred tax liability — accrued expenses | — |  |  | — |
Noncurrent deferred tax liability — deferred income taxes | (144,908 | ) |  | (121,349 | )
Total deferred tax liabilities | (144,908 | ) |  | (121,349 | )
Net deferred tax liabilities | $ | (106,473 | ) |  | $ | (85,834 | )
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 2013, 2012 and 2011 are shown in the following table:
| 2013 |  | 2012 |  | 2011
| (In thousands)
Pretax income | $ | 353,129 |  |  | $ | 86,204 |  |  | $ | 273,881 |
Provision for income taxes: |  |  |  |  |
Computed amount at statutory rate of 35% | $ | 123,595 |  |  | $ | 30,171 |  |  | $ | 95,858 |
State and local income tax (net of federal tax benefit) | 4,382 |  |  | 2,406 |  |  | 1,515 |
Taxes on non-U.S. earnings-net of foreign tax credits | (9,683 | ) |  | 1,189 |  |  | (4,522 | )
Effect of flow-through entities | (7,267 | ) |  | (7,846 | ) |  | (6,922 | )
Asset impairments | — |  |  | 28,524 |  |  | — |
U.S. business tax credits | (1,516 | ) |  | — |  |  | (917 | )
Domestic activities production deduction | (6,217 | ) |  | (5,267 | ) |  | (4,589 | )
Other | (5,380 | ) |  | (603 | ) |  | (399 | )
Total provision for income taxes | $ | 97,914 |  |  | $ | 48,574 |  |  | $ | 80,024 |
The Company has $597 million and $468 million of undistributed earnings of non-U.S. subsidiaries as of December 31, 2013 and 2012 , respectively. No deferred U.S. income taxes have been provided on these earnings as they are considered to be reinvested for an indefinite period of time or will be repatriated when it is tax effective to do so. If these amounts were distributed to the U.S., in the form of dividends or otherwise, we would be subject to additional U.S. income taxes, which could be material. Determination of the amount of unrecognized deferred income tax liabilities on these earnings is not practicable because of the complexities with the hypothetical calculation, and the amount of liability, if any, is dependent on circumstances if and when remittance occurs. During the year ended December 31, 2013, the Company repatriated $11.7 million of foreign earnings resulting in $0.9 million of incremental income tax expense. A reconciliation of the beginning and ending amount of unrecognized tax benefits for 2013, 2012 and 2011 are shown in the following table:
| 2013 |  | 2012 |  | 2011
| (In thousands)
Beginning balance January 1st | $ | 6,506 |  |  | $ | 5,548 |  |  | $ | 6,440 |
Gross increases for tax positions of prior years | 1,357 |  |  | 3,017 |  |  | 1,828 |
Gross decreases for tax positions of prior years | (99 | ) |  | (98 | ) |  | (1,595 | )
Settlements | (1,219 | ) |  | — |  |  | (338 | )
Lapse of statute of limitations | (1,421 | ) |  | (1,961 | ) |  | (787 | )
Ending balance December 31st | $ | 5,124 |  |  | $ | 6,506 |  |  | $ | 5,548 |
We recognize interest and penalties related to uncertain tax positions in income tax expense. As of December 31, 2013, 2012 and 2011, we had approximately $0.5 million, $0.7 million and $0.5 million, respectively, of accrued interest related to uncertain tax positions. As of December 31, 2013, 2012 and 2011, we had approximately $0.2 million, $0.5 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 $4.5 million, $5.8 million and $5.0 million as of December 31, 2013, 2012 and 2011, respectively. The tax years 2007-2012 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 $1.2 million. The Company had net operating loss and credit carry forwards for U.S. federal purposes at December 31, 2013 and 2012 of $9.4 and $13.9 million, respectively. For non-U.S. purposes, the Company had net operating loss carry forwards at December 31, 2013 and 2012 of $7.0 and $7.8 million, respectively. The federal net operating loss carry forwards are available for use against the Company’s consolidated federal taxable income and expire between 2018 and 2031. The entire balance of the non-U.S. net operating losses is available to be carried forward, with $2.7 million of these losses beginning to expire during the years 2018 through 2021. The remaining $4.3 million of such losses can be carried forward indefinitely. At December 31, 2013 and 2012, the Company had a foreign capital loss carry forward of approximately $1.0 million and $1.0 million, respectively. The foreign capital loss can be carried forward indefinitely. At both December 31, 2013 and 2012, the Company has a valuation allowance against the deferred tax asset attributable to the foreign capital loss of $0.2 million. At December 31, 2013 and 2012, the Company had state net operating loss and credit carry forwards of approximately $22.4 million and $38.8 million, respectively. If unutilized, the state net operating loss will expire between 2020 and 2033. At December 31, 2013 and 2012, the Company recorded a valuation allowance against the deferred tax asset attributable to the state net operating loss of $0.7 million and $1.5 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 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 2: 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=26873400&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 4: 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 5: 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 6: 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 + Details
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