XML 67 R43.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2013
Schedule of Provision for Income Taxes from Operations | The provision for income taxes from operations consisted of the following:
|  | Year Ended December 31 |
In thousands |  | 2013 |  |  | 2012 |  |  | 2011 |
Current taxes |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 625 |  |  | $ | 8,869 |  |  | $ | 6,943 |
State |  |  | (4,365 | ) |  |  | 3,386 |  |  |  | (1,762 | )
Foreign |  |  | 17,268 |  |  |  | 9,516 |  |  |  | 2,637 |
|  |  | 13,528 |  |  |  | 21,771 |  |  |  | 7,818 |
Deferred taxes and other |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (10,973 | ) |  |  | (5,456 | ) |  |  | (3,908 | )
State |  |  | (474 | ) |  |  | (920 | ) |  |  | (286 | )
Foreign |  |  | (38 | ) |  |  | 4,167 |  |  |  | 4,527 |
|  |  | (11,485 | ) |  |  | (2,209 | ) |  |  | 333 |
Income tax provision |  | $ | 2,043 |  |  | $ | 19,562 |  |  | $ | 8,151 |
Schedule of Domestic and Foreign Components of Pretax Income from Operations | The following are the domestic and foreign components of pretax income from operations:
|  | Year Ended December 31 |
In thousands |  | 2013 |  |  | 2012 |  |  | 2011 |
United States |  | $ | (3,052 | ) |  | $ | 24,525 |  |  | $ | (991 | )
Foreign |  |  | 72,253 |  |  |  | 54,416 |  |  |  | 51,836 |
Total pretax income |  | $ | 69,201 |  |  | $ | 78,941 |  |  | $ | 50,845 |
Schedule of Reconciliation of Federal Statutory Rate to Company's Effective Tax Rate | A reconciliation between the income tax provision, computed by applying the statutory federal income tax rate of 35% to income before income taxes, and the actual income tax provision is as follows:
|  | Year Ended December 31 |
|  | 2013 |  |  | 2012 |  |  | 2011 |
Federal income tax provision at statutory rate |  |  | 35.0 | % |  |  | 35.0 | % |  |  | 35.0 | %
State income taxes, net of federal income tax benefit |  |  | 0.5 |  |  |  | 1.3 |  |  |  | 0.7 |
Foreign income tax rate differential |  |  | (5.4 | ) |  |  | (3.9 | ) |  |  | (6.8 | )
Change in statutory tax rates |  |  | (0.6 | ) |  |  | (0.8 | ) |  |  | 0.9 |
Tax credits |  |  | (4.4 | ) |  |  | (0.5 | ) |  |  | (2.0 | )
Change in unrecognized tax benefits, net |  |  | (22.7 | ) |  |  | 0.4 |  |  |  | (11.6 | )
Cellulosic biofuel credit, net of incremental state tax and manufacturing deduction benefit |  |  | – |  |  |  | (6.1 | ) |  |  | – |
Valuation allowance |  |  | – |  |  |  | – |  |  |  | 3.2 |
Other |  |  | 0.6 |  |  |  | (0.6 | ) |  |  | (3.4 | )
Provision for income taxes |  |  | 3.0 | % |  |  | 24.8 | % |  |  | 16.0 | %
Schedule of Current and Non-Current Deferred Tax Assets and Liabilities | Current and non-current deferred tax assets and liabilities are included in the following balance sheet captions:
|  | December 31 |
In thousands |  |  | 2013 |  |  |  | 2012 |
Prepaid expenses and |  |  |  |  |  |  |  |
other current assets |  | $ | 21,447 |  |  | $ | 16,319 |
Other long term assets |  |  | 9,197 |  |  |  | 8,110 |
Other current liabilities |  |  | 12 |  |  |  | 687 |
Deferred income taxes |  |  | 141,020 |  |  |  | 62,046 |
Schedule of Unrecognized Tax Benefit | A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits is as follows:
In millions |  |  | 2013 |  |  |  | 2012 |  |  |  | 2011 |
Balance at January 1 |  | $ | 30.4 |  |  | $ | 29.7 |  |  | $ | 38.7 |
Increases in tax positions for prior years |  |  | 0.2 |  |  |  | 1.4 |  |  |  | 0. 8 |
Decreases in tax positions for prior years |  |  | (4.9 | ) |  |  | (1.0 | ) |  |  | (7.5 | )
Acquisition related: |  |  |  |  |  |  |  |  |  |  |  |
Purchase Accounting(1) |  |  | 1.3 |  |  |  | – |  |  |  | – |
Increases in tax positions for current year |  |  | 1.7 |  |  |  | 1.9 |  |  |  | 1.1 |
Settlements |  |  | – |  |  |  | (0.4 | ) |  |  | (0.1 | )
Lapse in statutes of limitation |  |  | (13.8 | ) |  |  | (1.2 | ) |  |  | (3.3 | )
Balance at December 31 |  | $ | 14.9 |  |  | $ | 30.4 |  |  | $ | 29.7 |
(1) | in connection with acquisition accounting for the Dresden transaction, we recorded a $1.3 million reserve for an uncertain tax position and at the same time recorded a receivable from the seller due to an indemnification agreement.
Summary of Information Related to Interest and Penalties on Uncertain Tax Positions | The following table summarizes information related to interest and penalties on uncertain tax positions:
|  | As of or for the year ended December 31, |
In millions |  |  | 2013 |  |  |  | 2012 |  |  |  | 2011 |
Accrued interest payable |  | $ | 0.6 |  |  | $ | 1.4 |  |  | $ | 1.7 |
Interest expense (income) |  |  | (0.8 | ) |  |  | (0.3 | ) |  |  | (2.1 | )
Penalties |  |  | – |  |  |  | – |  |  |  | – |
Deferred Income Tax [Member] |
Schedule of Current and Non-Current Deferred Tax Assets and Liabilities | The sources of deferred income taxes were as follows at December 31:
|  | 2013 |  |  | 2012 |
In thousands |  |  | Current Asset (Liability) |  |  |  | Non current Asset (Liability) |  |  |  | Current Asset (Liability) |  |  |  | Non current Asset (Liability) |
Reserves |  | $ | 5,001 |  |  | $ | 7,919 |  |  | $ | 6,871 |  |  | $ | 8,095 |
Compensation |  |  | 3,111 |  |  |  | 5,000 |  |  |  | 3,332 |  |  |  | 5,034 |
Post-retirement benefits |  |  | 1,070 |  |  |  | 19,819 |  |  |  | 1,285 |  |  |  | 22,642 |
Property |  |  | – |  |  |  | (98,889 | ) |  |  | – |  |  |  | (92,144 | )
Intangible Assets |  |  | – |  |  |  | (28,918 | ) |  |  | – |  |  |  | (1,603 | )
Pension |  |  | 802 |  |  |  | (51,148 | ) |  |  | 508 |  |  |  | (14,681 | )
Inventories |  |  | 1,491 |  |  |  | – |  |  |  | 1,447 |  |  |  | – |
Other |  |  | 893 |  |  |  | 2,377 |  |  |  | 204 |  |  |  | 2,578 |
Tax carryforwards |  |  | 10,322 |  |  |  | 16,922 |  |  |  | 5,218 |  |  |  | 43,409 |
Subtotal |  |  | 22,690 |  |  |  | (126,918 | ) |  |  | 18,865 |  |  |  | (26,670 | )
Valuation allowance |  |  | (1,255 | ) |  |  | (4,905 | ) |  |  | (3,233 | ) |  |  | (27,266 | )
Total |  | $ | 21,435 |  |  | $ | (131,823 | ) |  | $ | 15,632 |  |  | $ | (53,936 | )

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=6907707&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=6907707&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=6907707&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=32707879&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=6907707&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 + Details
Name: | us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration