Taxes on Income (Tables)

12 Months Ended

Dec. 31, 2016

Earnings before taxes on income and details of the provision for taxes on income for the years ended December 31, 2016, 2015 and 2014 were as follows (in thousands):

	2016		2015		2014
Earnings before taxes on income — United States	$	227,746	$	361,712	$	454,390

Provision for taxes on income:
Federal:
Current	$	28,919	$	64,707	$	81,953
Deferred		49,685		59,582		72,920
State and local		6,338		9,453		14,909
	$	84,942	$	133,742	$	169,782

Schedule of Effective Income Tax Rate Reconciliation

The Company’s provision for taxes on income varied from the statutory federal income tax rate for the years ended December 31, 2016, 2015 and 2014 due to the following:

	2016			2015			2014
United States income tax statutory rate		35.0	%		35.0	%		35.0	%
State and local taxes, net of federal benefit		1.8			1.7			2.2
Other – net		.5			.3			.2
		37.3	%		37.0	%		37.4	%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the current deferred tax assets and non-current deferred tax assets and liabilities at December 31, 2016 and 2015 were as follows (in thousands):

	2016			2015
Current deferred tax assets:
Compensated absences	$	739		$	829
Allowance for doubtful accounts		2,534			3,288
Insurance accruals		6,218			4,234
Other		4,113			3,372
	$	13,604		$	11,723

Non-current deferred tax assets and liabilities:
Deferred tax assets:
Postretirement health care benefits	$	2,234		$	2,501
Insurance accruals		2,910			3,410
Deferred compensation		11,124			10,534
Unrealized loss on defined benefit plans		28,832			25,245
Operating loss carryforwards		7,846			5,188
Other		21,622			20,702
Valuation allowances		(7,417)			(4,716)
		67,151			62,864

Deferred tax liabilities:
Property		(654,751	)		(604,737	)
Deferred state taxes		(54,812	)		(53,542	)
Pension benefits		(2,799	)		(8,471	)
Goodwill and other intangibles		(51,551	)		(44,185	)
Other		(22,295	)		(21,737	)
		(786,208	)		(732,672	)
	$	(719,057	)	$	(669,808	)

Reconciliation of Liability for Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of the liability for unrecognized tax benefits for the years ended December 31, 2016, 2015 and 2014, is as follows (in thousands):

	2016			2015			2014
Balance at beginning of year	$	1,958		$	1,171		$	949
Additions based on tax positions related to the current year		187			339			470
Additions for tax positions of prior years		867			785			39
Reductions for tax positions of prior years		(441	)		(337	)		(287	)
Settlements		(552	)		—			—
Balance at end of year	$	2,019		$	1,958		$	1,171