XML 57 R43.htm IDEA: XBRL DOCUMENT v3.6.0.2

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Provision For Income Taxes

Provision for income taxes for the years ended December 31 consists of the following (in thousands):

		2016				2015				2014
Current:
Federal		$	284,489			$	363,803			$	394,904
State		28,406				37,811				30,997
Foreign		19,017				12,826				20,429
		331,912				414,440				446,330
Deferred:
Federal		(4,250		)		(15,474		)		(5,743		)
State		7,038				(2,264		)		(3,155		)
Foreign		(2,953		)		1,254				1,277
		(165		)		(16,484		)		(7,621		)
Total		$	331,747			$	397,956			$	438,709

Components Of Income Before Taxes

The components of income before income taxes for the years ended December 31 were as follows (in thousands):

		2016				2015				2014
Domestic		$	954,138			$	1,101,427			$	1,196,335
Foreign		69,773				48,736				86,985
Total		$	1,023,911			$	1,150,163			$	1,283,320

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:

		2016			2015			2014
Provision at statutory rate		35.0	%		35.0	%		35.0	%
State taxes, net of federal benefit		1.8			1.8			1.7
Foreign rate differential		(0.6	)		(0.4	)		(0.6	)
Domestic manufacturing deduction		(2.1	)		(2.1	)		(2.1	)
Research and development credit		(0.4	)		(0.4	)		(0.4	)
Unrecognized tax benefits including interest and penalties		(1.3	)		1.1			0.2
Valuation allowance adjustments		0.1			(0.1	)		(0.1	)
Adjustments for previously accrued taxes		0.2			(0.1	)		(0.3	)
Other		(0.3	)		(0.2	)		0.8
Provision for income taxes		32.4	%		34.6	%		34.2	%

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):

		2016				2015
Deferred tax assets:
Accruals not yet tax deductible		$	141,961			$	129,449
Pension and postretirement benefit plan obligations		88,741				126,952
Stock compensation		19,051				20,111
Net operating loss carryforward		33,587				38,250
Valuation allowance		(30,953		)		(20,659		)
Other, net		56,903				47,039
		309,290				341,142
Deferred tax liabilities:
Depreciation, tax in excess of book		(139,268		)		(136,340		)
Other		(2,293		)		(2,419		)
		(141,561		)		(138,759		)
Total		$	167,729			$	202,383

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):

		2016				2015
Unrecognized tax benefits, beginning of period		$	73,100			$	64,200
Increase in unrecognized tax benefits for tax positions taken in a prior period		2,828				9,149
Decrease in unrecognized tax benefits for tax positions taken in a prior period		(21,061		)		(1,993		)
Increase in unrecognized tax benefits for tax positions taken in the current period		7,402				6,302
Statute lapses		(1,907		)		(2,465		)
Settlements with taxing authorities		(4,823		)		(2,093		)
Unrecognized tax benefits, end of period		$	55,539			$	73,100

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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=65882285&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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=65882285&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h)(1)(i))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 55
-Paragraph 217
-URI http://asc.fasb.org/extlink&oid=75116239&loc=d3e36027-109320

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15A
-URI http://asc.fasb.org/extlink&oid=65882285&loc=SL6600010-109319

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration