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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2014
Income Tax Disclosure [Abstract] |
Provision For Income Taxes | Provision for income taxes for the years ended December 31 consists of the following (in thousands):
|  | 2014 |  | 2013 |  | 2012
Current: |  |  |  |  |  |
Federal |  | $ | 394,904 |  |  | $ | 281,938 |  |  | $ | 191,006 |
State |  | 30,997 |  |  | 23,701 |  |  | 4,221 |
Foreign |  | 20,429 |  |  | 22,093 |  |  | 13,189 |
|  | 446,330 |  |  | 327,732 |  |  | 208,416 |
Deferred: |  |  |  |  |  |
Federal |  | (5,743 | ) |  | 51,509 |  |  | 121,934 |
State |  | (3,155 | ) |  | (1,471 | ) |  | 7,697 |
Foreign |  | 1,277 |  |  | 2,542 |  |  | (460 | )
|  | (7,621 | ) |  | 52,580 |  |  | 129,171 |
Total |  | $ | 438,709 |  |  | $ | 380,312 |  |  | $ | 337,587 |
Components Of Income Before Taxes | The components of income before income taxes for the years ended December 31 were as follows (in thousands):
|  | 2014 |  | 2013 |  | 2012
Domestic |  | $ | 1,196,335 |  |  | $ | 1,042,317 |  |  | $ | 946,592 |
Foreign |  | 86,985 |  |  | 71,988 |  |  | 14,920 |
Total |  | $ | 1,283,320 |  |  | $ | 1,114,305 |  |  | $ | 961,512 |
Provision For Income Tax Rate To Statutory Rate Reconciliation | The provision for income taxes differs from the amount that would be provided by applying the statutory U.S. corporate income tax rate due to the following items for the years ended December 31:
|  | 2014 |  | 2013 |  | 2012
Provision at statutory rate |  | 35.0 | % |  | 35.0 | % |  | 35.0 | %
State taxes, net of federal benefit |  | 1.7 |  |  | 1.6 |  |  | 1.6 |
Domestic manufacturing deduction |  | (2.1 | ) |  | (1.7 | ) |  | (1.6 | )
Research and development credit |  | (0.4 | ) |  | (0.9 | ) |  | — |
Unrecognized tax benefits including interest and penalties |  | 0.2 |  |  | 0.9 |  |  | 0.1 |
Valuation allowance adjustments |  | (0.1 | ) |  | (0.3 | ) |  | (0.3 | )
Tax audit settlements |  | — |  |  | 0.1 |  |  | (0.1 | )
Adjustments for previously accrued taxes |  | (0.3 | ) |  | (0.2 | ) |  | (0.4 | )
Other |  | 0.2 |  |  | (0.4 | ) |  | 0.8 |
Provision for income taxes |  | 34.2 | % |  | 34.1 | % |  | 35.1 | %
Principal Components Of The Company's Deferred Tax Assets And Liabilities | The principal components of the Company’s deferred tax assets and liabilities as of December 31 include the following (in thousands):
|  | 2014 |  | 2013
Deferred tax assets: |  |  |  |
Accruals not yet tax deductible |  | $ | 120,817 |  |  | $ | 128,307 |
Pension and postretirement benefit plan obligations |  | 104,723 |  |  | 5,192 |
Stock compensation |  | 21,089 |  |  | 22,370 |
Net operating loss carryforward |  | 41,927 |  |  | 40,530 |
Valuation allowance |  | (25,462 | ) |  | (21,818 | )
Other, net |  | 38,465 |  |  | 37,034 |
|  | 301,559 |  |  | 211,615 |
Deferred tax liabilities: |  |  |  |
Depreciation, tax in excess of book |  | (128,117 | ) |  | (119,916 | )
Other |  | (5,691 | ) |  | (34,234 | )
|  | (133,808 | ) |  | (154,150 | )
Total |  | $ | 167,751 |  |  | $ | 57,465 |
Changes In Gross Liability For Unrecognized Tax Benefits Excluding Interest And Penalties | The Company recognizes interest and penalties related to unrecognized tax benefits in the provision for income taxes. Changes in the Company’s gross liability for unrecognized tax benefits, excluding interest and penalties, were as follows (in thousands):
|  | 2014 |  | 2013
Unrecognized tax benefits, beginning of period |  | $ | 63,057 |  |  | $ | 48,752 |
Increase in unrecognized tax benefits for tax positions taken in a prior period |  | 900 |  |  | 9,713 |
Decrease in unrecognized tax benefits for tax positions taken in a prior period |  | (4,989 | ) |  | (4,335 | )
Increase in unrecognized tax benefits for tax positions taken in the current period |  | 5,876 |  |  | 11,142 |
Statute lapses |  | — |  |  | (336 | )
Settlements with taxing authorities |  | (644 | ) |  | (1,879 | )
Unrecognized tax benefits, end of period |  | $ | 64,200 |  |  | $ | 63,057 |

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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 the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
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