v3.3.1.900

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

Income before income taxes and Provision for (benefit from) income taxes consisted of the following:

	Year Ended December 31,
	2015				2014				2013
	(In thousands)
Income (loss) before income taxes:
Domestic operations	$	(16,487	)		$	53,153			$	(7,899	)
Foreign operations	253,389				305,095				310,694
	$	236,902			$	358,248			$	302,795
Provision for (benefit from) income taxes:
Current:
Federal	$	465			$	798			$	(464	)
State	1,076				2,047				871
Foreign	70,900				74,618				83,299
	72,441				77,463				83,706
Deferred:
Domestic operations	$	(1,231	)		$	(127,114	)		$	11,603
Foreign operations	(21,486		)		(12,374		)		(1,657		)
	(22,717		)		(139,488		)		9,946
	$	49,724			$	(62,025	)		$	93,652

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The Company’s Provision for (benefit from) income taxes differs from the amount that would be computed by applying the U.S. federal statutory rate as follows:

	Year Ended December 31,
	2015				2014				2013
	(In thousands)
Taxes calculated at the U.S. federal statutory rate	$	82,940			$	125,386			$	105,978
State taxes	768				2,323				871
Effect of tax rates on international operations	(36,364		)		(34,619		)		(42,972		)
Change in enacted international tax rates	(4,415		)		(149		)		(5,217		)
Changes in valuation allowance and tax reserves	1,784				(156,071		)		30,554
Other	5,011				1,105				4,438
Provision for (benefit from) income taxes	$	49,724			$	(62,025	)		$	93,652

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Deferred income taxes, net reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. During the year ended December 31, 2015, adjustments were made retrospectively to provisional amounts recorded as of December 31, 2014, due to the finalization of the valuation of specific tax items related to the acquisition consummated during the three months ended June 27, 2014. The significant components of deferred tax assets and liabilities, in addition to the reconciliation of the beginning and ending amount of gross unrecognized tax benefits below, include the impact of these retrospective adjustments. Significant components of the deferred tax assets and liabilities are as follows:

	December 31,
	2015				2014
	(In thousands)
Deferred tax assets:
Post-retirement benefit obligation	$	75,045			$	92,995
Expenses currently not deductible	109,283				116,247
Net operating loss carryforward	211,627				228,863
Tax credit carryforward	10,343				11,509
Depreciation and amortization	7,533				11,121
Other	25,379				22,285
Valuation allowance	(161,030		)		(159,252		)
Deferred tax assets, net	$	278,180			$	323,768
Deferred tax liabilities:
Depreciation and amortization	$	(317,464	)		$	(353,660	)
Post-retirement benefit obligation	(13,581		)		(12,116		)
Inventory	(17,122		)		(16,549		)
Other	(174,367		)		(193,618		)
Total deferred tax liabilities	$	(522,534	)		$	(575,943	)
Total deferred tax liabilities, net	$	(244,354	)		$	(252,175	)

Summary of Income Tax Contingencies [Table Text Block]

The Company records a liability for unrecognized income tax benefits for the amount of benefit included in its previously filed income tax returns and in its financial results expected to be included in income tax returns to be filed for periods through the date of its Consolidated Financial Statements for income tax positions for which it is more likely than not that a tax position will not be sustained upon examination by the respective taxing authority. A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows (inclusive of associated interest and penalties):

	(In thousands)
Balance, December 31, 2013	$	71,595
Acquisitions	37,328
Addition for tax positions taken in prior periods	3,752
Addition for tax positions taken in the current period	894
Reduction for tax positions taken in prior periods	(27,601		)
Other, including the impact of foreign currency translation	(8,443		)
Balance, December 31, 2014	77,525
Addition for tax positions taken in prior periods	3,924
Addition for tax positions taken in the current period	924
Reduction for tax positions taken in prior periods	(23,616		)
Other, including the impact of foreign currency translation	(5,879		)
Balance, December 31, 2015	$	52,878

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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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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
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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.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
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Tabular disclosure of 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 (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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