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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Schedule of Earnings (Loss) From Continuing Operations Before Income Taxes | Following is a summary of (loss) earnings before income taxes for United States and foreign operations:
| 2022 |  | 2021 |  | 2020
United States | $ | (233,208) |  |  | 380,632 |  |  | 94,829 |
Foreign | 417,101 |  |  | 909,361 |  |  | 489,545 |
Earnings before income taxes | $ | 183,893 |  |  | 1,289,993 |  |  | 584,374 |
Schedule of Income Tax Expense (Benefit) | Income tax expense (benefit) for the years ended December 31, 2022, 2021 and 2020 consists of the following:
| 2022 |  | 2021 |  | 2020
Current income taxes: |  |  |  |  |
U.S. federal | $ | 91,948 |  |  | 93,085 |  |  | (33,821) |
State and local | 11,230 |  |  | 24,904 |  |  | 7,794 |
Foreign | 106,032 |  |  | 143,385 |  |  | 72,350 |
Total current | 209,210 |  |  | 261,374 |  |  | 46,323 |
Deferred income taxes: |  |  |  |  |
U.S. federal | (27,756) |  |  | (2,655) |  |  | 14,533 |
State and local | 9,586 |  |  | 13,306 |  |  | 112 |
Foreign | (32,930) |  |  | (15,580) |  |  | 7,679 |
Total deferred | (51,100) |  |  | (4,929) |  |  | 22,324 |
Total income tax expense | $ | 158,110 |  |  | 256,445 |  |  | 68,647 |
Schedule of Reconciliation Of Income Tax Expense (Benefit) | Income tax expense (benefit) attributable to earnings before income taxes differs from the amounts computed by applying the U.S. statutory federal income tax rate to earnings before income taxes as follows:
| 2022 |  | 2021 |  | 2020
Income taxes at statutory rate | $ | 38,618 |  |  | 270,898 |  |  | 122,719 |
State and local income taxes, net of federal income tax benefit | 4,858 |  |  | 25,658 |  |  | 8,081 |
Foreign income taxes (1) | (50,483) |  |  | (34,981) |  |  | (57,898) |
Change in valuation allowance | 44,814 |  |  | 5,947 |  |  | 35,381 |
Impairment of non-deductible goodwill | 132,497 |  |  | — |  |  | — |
Loss on previously taxed earnings | — |  |  | — |  |  | (10,346) |
Carryback rate differential (2) | — |  |  | (15,743) |  |  | (33,739) |
Fixed asset adjustments | (7,289) |  |  | (7,113) |  |  | (8,630) |
Non-deductible expenses | 11,250 |  |  | 8,128 |  |  | 8,424 |
General business credits and incentives | (21,833) |  |  | (3,958) |  |  | (4,004) |
Global intangible low-taxed income | 7,200 |  |  | 34,400 |  |  | 2,500 |
Italy step-up adjustment (3) | — |  |  | (22,163) |  |  | — |
Tax contingencies and audit settlements, net | (96) |  |  | 12,505 |  |  | 6,779 |
Other, net | (1,426) |  |  | (17,133) |  |  | (620) |
| $ | 158,110 |  |  | 256,445 |  |  | 68,647 |
(1) Foreign income taxes include statutory rate differences, financing arrangements, withholding taxes, local income taxes, notional deductions, and other miscellaneous items. (2) The CARES Act permits the Company to carry back its 2020 U.S. taxable loss to a tax year before the corporate income tax rate was lowered by the Tax Cuts and Jobs Act. (3) The company realized a one-time Italian step-up benefit allowing for the realignment of tax asset values.
Schedule of Deferred Tax Assets And Deferred Tax Liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities as of December 31, 2022 and 2021 are presented below:
| 2022 |  | 2021
Deferred tax assets: |  |  |
Accounts receivable | $ | 15,783 |  |  | 16,550 |
Inventories | 53,088 |  |  | 38,388 |
Employee benefits | 47,089 |  |  | 54,865 |
Accrued expenses and other | 95,682 |  |  | 73,983 |
Deductible state tax and interest benefit | 7,584 |  |  | 7,206 |
Intangibles | 122,710 |  |  | 135,777 |
Lease liabilities | 108,596 |  |  | 106,753 |
Interest expense | 10,749 |  |  | — |
Federal, foreign and state net operating losses and credits | 448,759 |  |  | 408,434 |
Gross deferred tax assets | 910,040 |  |  | 841,956 |
Valuation allowance | (284,347) |  |  | (236,357) |
Net deferred tax assets | 625,693 |  |  | 605,599 |
Deferred tax liabilities: |  |  |
Inventories | (17,415) |  |  | (23,484) |
Plant and equipment | (463,810) |  |  | (467,451) |
Intangibles | (175,788) |  |  | (188,417) |
Right of use operating lease assets | (102,959) |  |  | (101,935) |
Prepaids | (47,079) |  |  | (45,077) |
Other liabilities | (58,799) |  |  | (67,914) |
Gross deferred tax liabilities | (865,850) |  |  | (894,278) |
Net deferred tax liability | $ | (240,157) |  |  | (288,679) |
Schedule of Reconciliation Of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
| 2022 |  | 2021
Balance as of January 1 | $ | 1,296,523 |  |  | 1,388,391 |
Additions based on tax positions related to the current year | 1,439 |  |  | 458 |
Additions for tax positions of prior years | 4,678 |  |  | 18,001 |
Reductions resulting from the lapse of the statute of limitations | (3,419) |  |  | (3,336) |
Effects of foreign currency translation | (68,589) |  |  | (106,991) |
Balance as of December 31 | $ | 1,230,632 |  |  | 1,296,523 |

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