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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2017
Income Tax Disclosure [Abstract] |
Components of earnings from continuing operations before income taxes | The components of earnings from continuing operations before income taxes and the (benefit from) provision for income taxes from continuing operations were as follows:
|  | Years ended December 31,
|  | 2017 |  | 2016 |  | 2015
|  | (In thousands)
Earnings from continuing operations before income taxes: |  |  |  |  |  |
United States |  | $ | 254,327 |  |  | 344,614 |  |  | 408,757 |
Foreign |  | 59,459 |  |  | 61,767 |  |  | 60,458 |
Total |  | $ | 313,786 |  |  | 406,381 |  |  | 469,215 |
Current tax expense (benefit) from continuing operations: |  |  |  |  |  |
Federal (1) |  | $ | 6,752 |  |  | 2,731 |  |  | (1,836 | )
State (1) |  | 9,360 |  |  | 7,713 |  |  | 5,748 |
Foreign |  | 6,442 |  |  | 6,411 |  |  | 5,272 |
|  | 22,554 |  |  | 16,855 |  |  | 9,184 |
Deferred tax (benefit) expense from continuing operations: |  |  |  |  |  |
Federal |  | (509,573 | ) |  | 106,513 |  |  | 135,585 |
State |  | 7,985 |  |  | 16,259 |  |  | 20,111 |
Foreign |  | 1,805 |  |  | 2,114 |  |  | (1,654 | )
|  | (499,783 | ) |  | 124,886 |  |  | 154,042 |
(Benefit from) provision for income taxes from continuing operations |  | $ | (477,229 | ) |  | 141,741 |  |  | 163,226 |
______________
(1) | Excludes federal and state tax benefits resulting from the exercise of stock options and vesting of restricted stock awards, which were credited directly to “Additional paid-in capital” for the year ended December 31, 2015.
Reconciliation of federal statutory tax rate with effective tax rate from continuing operations | A reconciliation of the federal statutory tax rate with the effective tax rate from continuing operations follows:
|  | Years ended December 31,
|  | 2017 |  | 2016 |  | 2015
|  | (Percentage of pre-tax earnings)
Federal statutory tax rate |  | 35.0 |  |  | 35.0 |  |  | 35.0 |
Impact of one-time deemed repatriation |  | 10.7 |  |  | — |  |  | — |
Impact on deferred taxes for changes in tax rates |  | (197.5 | ) |  | (0.7 | ) |  | (0.9 | )
State income taxes, net of federal income tax benefit |  | 4.5 |  |  | 5.0 |  |  | 5.0 |
Foreign rates varying from federal statutory tax rate |  | (4.0 | ) |  | (3.3 | ) |  | (3.3 | )
Tax reviews and audits |  | (1.0 | ) |  | (0.7 | ) |  | (1.3 | )
Other, net |  | 0.2 |  |  | (0.4 | ) |  | 0.3 |
Effective tax rate |  | (152.1 | ) |  | 34.9 |  |  | 34.8 |
Summary of the increases (decreases) to net earnings from continuing operations from changes in tax laws | The following provides a summary of the increases to net earnings from continuing operations from changes in tax laws by tax jurisdiction:
Tax Jurisdiction |  | Enactment Date |  | Net Earnings
|  |  |  | (in thousands)
2017 |  |  |  |
United States |  | December 22, 2017 |  | $585,912
Illinois |  | July 1, 2017 |  | $(1,844)
2016 |  |  |  |
North Carolina |  | August 4, 2016 |  | $585
2015 |  |  |  |
Connecticut |  | June 30, 2015 |  | $1,616
Other Jurisdictions |  | April 13, 2015 - November 18, 2015 |  | $497
Components of net deferred income tax liability | The components of the net deferred income tax liability were as follows:
|  | December 31,
|  | 2017 |  | 2016
|  | (In thousands)
Deferred income tax assets: |  |  |  |
Self-insurance accruals |  | $ | 75,198 |  |  | 107,252 |
Net operating loss carryforwards |  | 171,053 |  |  | 396,313 |
Alternative minimum taxes |  | 22,552 |  |  | 13,901 |
Accrued compensation and benefits |  | 65,532 |  |  | 81,454 |
Federal benefit on state tax positions |  | 11,950 |  |  | 19,247 |
Pension benefits |  | 82,547 |  |  | 162,141 |
Miscellaneous other accruals |  | 19,608 |  |  | 28,313 |
|  | 448,440 |  |  | 808,621 |
Valuation allowance |  | (18,667 | ) |  | (16,387 | )
|  | 429,773 |  |  | 792,234 |
Deferred income tax liabilities: |  |  |  |
Property and equipment basis difference |  | (1,614,963 | ) |  | (2,451,151 | )
Other |  | (16,857 | ) |  | (20,735 | )
|  | (1,631,820 | ) |  | (2,471,886 | )
Net deferred income tax liability (1) |  | $ | (1,202,047 | ) |  | (1,679,652 | )
______________
(1) | Deferred tax assets of $7 million and $9 million have been included in "Direct financing leases and other assets" at December 31, 2017 and 2016.
Summary of activity related to unrecognized tax benefits | The following table summarizes the activity related to unrecognized tax benefits (excluding the federal benefit received from state positions):
|  | December 31,
|  | 2017 |  | 2016 |  | 2015
|  | (In thousands)
Balance at January 1 |  | $ | 61,649 |  |  | 60,740 |  |  | 60,482 |
Additions based on tax positions related to the current year |  | 3,971 |  |  | 3,855 |  |  | 4,220 |
Reductions due to lapse of applicable statutes of limitation |  | (3,332 | ) |  | (2,946 | ) |  | (3,962 | )
Gross balance at December 31 |  | 62,288 |  |  | 61,649 |  |  | 60,740 |
Interest and penalties |  | 5,860 |  |  | 5,219 |  |  | 4,912 |
Balance at December 31 |  | $ | 68,148 |  |  | 66,868 |  |  | 65,652 |

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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=84230637&loc=d3e32639-109319 + Details
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