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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2014
Income Tax Disclosure [Abstract] |
Schedule of Income Before Income Tax | Pretax income for 2014, 2013 and 2012 was taxed in the following jurisdictions:
| 2014 |  | 2013 |  | 2012
| (In thousands)
Domestic | $ | 275,334 |  |  | $ | 233,530 |  |  | $ | 65,738 |
Foreign | 117,106 |  |  | 119,599 |  |  | 20,466 |
Total | $ | 392,440 |  |  | $ | 353,129 |  |  | $ | 86,204 |
Schedule of Components of Income Tax | The provision (benefit) for income taxes for 2014, 2013 and 2012, was as follows:
| 2014 |  | 2013 |  | 2012
| (In thousands)
Current |  |  |  |  |
U.S. | $ | 77,454 |  |  | $ | 59,707 |  |  | $ | 59,811 |
State and local | 7,133 |  |  | 8,123 |  |  | 5,764 |
Foreign | 37,060 |  |  | 33,240 |  |  | 20,228 |
Total current | 121,647 |  |  | 101,070 |  |  | 85,803 |
Deferred |  |  |  |  |
U.S. | (3,176 | ) |  | 1,500 |  |  | (31,246 | )
State and local | (1,708 | ) |  | (55 | ) |  | (2,377 | )
Foreign | (3,709 | ) |  | (4,601 | ) |  | (3,606 | )
Total deferred | (8,593 | ) |  | (3,156 | ) |  | (37,229 | )
Total provision for income taxes | $ | 113,054 |  |  | $ | 97,914 |  |  | $ | 48,574 |
Schedule of Deferred Tax Assets and Liabilities | Deferred tax assets (liabilities) at December 31, 2014 and 2013 were:
| 2014 |  | 2013
| (In thousands)
Employee and retiree benefit plans | $ | 38,871 |  |  | $ | 27,361 |
Depreciation and amortization | (172,766 | ) |  | (175,894 | )
Inventories | 11,229 |  |  | 9,627 |
Allowances and accruals | 14,552 |  |  | 9,632 |
Interest rate exchange agreement | 15,448 |  |  | 18,165 |
Other | 4,626 |  |  | 4,636 |
Total | $ | (88,040 | ) |  | $ | (106,473 | )
Schedule of Deferred Tax Assets (Liabilities) Recognized In Balance Sheets | The deferred tax assets and liabilities recognized in the Company’s Consolidated Balance Sheets as of December 31, 2014 and 2013 were:
| 2014 |  | 2013
| (In thousands)
Deferred tax asset — other current assets | $ | 39,305 |  |  | $ | 34,151 |
Deferred tax asset — other noncurrent assets | 3,080 |  |  | 4,284 |
Total deferred tax assets | 42,385 |  |  | 38,435 |
Deferred tax liability — accrued expenses | (57 | ) |  | — |
Noncurrent deferred tax liability — deferred income taxes | (130,368 | ) |  | (144,908 | )
Total deferred tax liabilities | (130,425 | ) |  | (144,908 | )
Net deferred tax liabilities | $ | (88,040 | ) |  | $ | (106,473 | )
Schedule of Effective Income Tax Rate Reconciliation | 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 2014, 2013 and 2012 are shown in the following table:
| 2014 |  | 2013 |  | 2012
| (In thousands)
Pretax income | $ | 392,440 |  |  | $ | 353,129 |  |  | $ | 86,204 |
Provision for income taxes |  |  |  |  |
Computed amount at statutory rate of 35% | $ | 137,354 |  |  | $ | 123,595 |  |  | $ | 30,171 |
State and local income tax (net of federal tax benefit) | 4,875 |  |  | 4,382 |  |  | 2,406 |
Taxes on non-U.S. earnings-net of foreign tax credits | (9,378 | ) |  | (9,683 | ) |  | 1,189 |
Effect of flow-through entities | (9,018 | ) |  | (7,267 | ) |  | (7,846 | )
Goodwill and intangible asset impairments | — |  |  | — |  |  | 28,524 |
U.S. business tax credits | (1,680 | ) |  | (1,516 | ) |  | — |
Domestic activities production deduction | (7,489 | ) |  | (6,217 | ) |  | (5,267 | )
Other | (1,610 | ) |  | (5,380 | ) |  | (603 | )
Total provision for income taxes | $ | 113,054 |  |  | $ | 97,914 |  |  | $ | 48,574 |
Schedule of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits for 2014, 2013 and 2012 is shown in the following table:
| 2014 |  | 2013 |  | 2012
| (In thousands)
Beginning balance January 1 | $ | 5,124 |  |  | $ | 6,506 |  |  | $ | 5,548 |
Gross increases for tax positions of prior years | 834 |  |  | 1,357 |  |  | 3,017 |
Gross decreases for tax positions of prior years | (51 | ) |  | (99 | ) |  | (98 | )
Settlements | (2,057 | ) |  | (1,219 | ) |  | — |
Lapse of statute of limitations | (231 | ) |  | (1,421 | ) |  | (1,961 | )
Ending balance December 31 | $ | 3,619 |  |  | $ | 5,124 |  |  | $ | 6,506 |

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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://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 + Details
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- 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 Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 + Details
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