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Income taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Provision (Benefit) for Income Taxes on Income from Continuing Operations

The provision (benefit) for income taxes from continuing operations consists of the following (in thousands):

2019	Current				Deferred				Total
Federal	$	59,791			$	21,345			$	81,136
State and other	7,567				719				8,286
Total	$	67,358			$	22,064			$	89,422

2018	Current				Deferred				Total
Federal	$	77,795			$	15,765			$	93,560
State and other	9,527				4,280				13,807
Total	$	87,322			$	20,045			$	107,367

2017	Current				Deferred				Total
Federal	$	81,355			$	(214,539	)		$	(133,184	)
State and other	7,981				(12,043		)		(4,062		)
Total	$	89,336			$	(226,582	)		$	(137,246	)

Reconciliation of Effective Tax Rate

The provision for income taxes varies from the U.S. federal statutory tax rate as a result of the following differences:

	2019		2018		2017
U.S. statutory tax rate	21.0%		21.0%		35.0%
Increase (decrease) in taxes resulting from:
State taxes (net of federal income tax benefit)	3.1		2.9		2.4
Domestic manufacturing deduction	—		—		(3.0)
Uncertain tax positions, settlements and lapse of statutes of limitations	(1.6)		(0.3)		(0.9)
Valuation allowances, tax rate changes, & other deferred adjustments	(1.7)		(1.0)		(6.3)
Valuation allowance on equity method investment	1.7		—		—
Enactment of the Tax Cuts and Jobs Act	—		(1.1)		(70.9)
Non-deductible transactions costs	0.3		—		1.2
Net excess benefits or expense on share-based payments	0.4		0.1		(0.4)
Other, net	0.6		(0.5)		(1.3)
Effective tax rate	23.8%		21.1%		(44.2%)

Deferred Tax Liabilities and Assets

Deferred tax liabilities and assets were composed of the following as of the end of December 31, 2019 and 2018 (in thousands):

	Dec. 31,
	2019				2018
Deferred tax liabilities
Accelerated depreciation	$	62,951			$	43,396
Accelerated amortization of deductible intangibles	524,697				427,760
Right-of-use assets for operating leases	25,615				—
Other	3,677				2,655
Total deferred tax liabilities	616,940				473,811
Deferred tax assets
Accrued compensation costs	16,180				13,440
Pension and post-retirement medical and life	35,192				34,679
Loss carryforwards	38,686				120,695
Operating lease liabilities	26,008				—
Other	30,914				34,044
Total deferred tax assets	146,980				202,858
Deferred tax asset valuation allowance	45,661				125,894
Total net deferred tax (liabilities)	$	(515,621	)		$	(396,847	)

The following table summarizes the activity related to deferred tax asset valuation allowances (in thousands):

	2019				2018				2017
Beginning at beginning of period	$	125,894			$	136,418			$	209,939
Additions to valuation allowance	9,545				3,908				40,180
Reductions to valuation allowance	(89,778		)		(14,432		)		(113,701		)
Balance at the end of the period	$	45,661			$	125,894			$	136,418

Summary of Activity Related to Unrecognized Tax Benefits, Excluding Federal Tax Benefit of State Tax Deductions

The following table summarizes the activity related to unrecognized tax benefits, excluding the federal tax benefit of state tax deductions (in thousands):

	2019				2018				2017
Change in unrecognized tax benefits
Balance as of beginning of year	$	12,843			$	15,043			$	17,300
Additions based on tax positions related to the current year	—				40				156
Additions for tax positions of prior years	—				2,631				11
Reductions for tax positions of prior years	(959		)		—				(636		)
Settlements	(288		)		(182		)		(852		)
Reductions due to lapse of statutes of limitations	(3,546		)		(4,689		)		(936		)
Balance as of end of year	$	8,050			$	12,843			$	15,043

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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.

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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.

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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.

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Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

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