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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Earnings (Loss) Before Income Taxes Composition in Each Tax Jurisdiction

Earnings (loss) before income taxes is comprised of the following amounts in each tax jurisdiction:

(In thousands)		2013				2012				2011
United States		$	38,900			$	111,278			$	72,156
Canada		(666		)		313				(1,236		)
Earnings before income taxes		$	38,234			$	111,591			$	70,920

Provision (Benefit) for Income Taxes

The income tax (benefit) provision is comprised of the following:

(In thousands)		2013				2012				2011
Current
Federal		$	(75,119	)		$	27,724			$	9,619
State		506				6,637				6,880
Foreign		263				229				(30		)
		(74,350		)		34,590				16,469
Deferred
Federal		10,177				16,243				12,865
State		(4,423		)		(3,180		)		1,931
Foreign		(125		)		(193		)		(19		)
		5,629				12,870				14,777
Income tax (benefit) provision		$	(68,721	)		$	47,460			$	31,246

Income Tax Reconciliation

The income tax benefit or provisions differ from the amounts computed by applying the statutory federal income tax rate of 35.0% to earnings before income taxes due to the following:

(In thousands)		2013				2012				2011
Computed expected tax provision		$	13,381			$	39,063			$	24,822
State and local taxes, net of federal income tax impact		1,279				4,398				1,482
Adjustment for state deferred tax rate		(762		)		(742		)		2,916
State investment tax credits		(2,263		)		(9,077		)		—
Federal credits and net operating losses		(10,234		)		4,121				(412		)
Federal manufacturing deduction		—				(3,288		)		(2,443		)
Uncertain tax positions		(69,144		)		4,801				2,610
Non-deductible acquisition costs		—				—				(1,215		)
Change in valuation allowances		(1,334		)		6,932				2,796
U.S. tax provision on foreign operations		67				(33		)		365
Other		289				1,285				325
Income tax provision		$	(68,721	)		$	47,460			$	31,246
Effective tax rate		(179.7		)%		42.5		%		44.1		%

Tax Effects of Significant Temporary Differences Creating Deferred Tax Assets and Liabilities

(In thousands)		2013				2012
Deferred tax assets:
Employee benefits		$	8,612			$	8,630
Postretirement employee benefits		41,515				52,751
Incentive compensation		8,937				9,130
Inventories		5,898				—
Pensions		152				31,140
Federal and state credit carryforwards		27,597				20,447
Net operating losses		13,930				7,649
Federal benefit from state taxes resulting from uncertain tax positions		—				5,595
Other		7,390				5,757
Total deferred tax assets		$	114,031			$	141,099
Valuation allowance		(13,622		)		(14,957		)
Deferred tax assets, net of valuation allowance		$	100,409			$	126,142
Deferred tax liabilities:
Plant and equipment		$	(178,227	)		$	(157,973	)
Intangible assets		(9,542		)		(10,843		)
Inventories		—				(314		)
Total deferred tax liabilities		(187,769		)		(169,130		)
Net deferred tax liabilities		$	(87,360	)		$	(42,988	)

Net deferred tax assets (liabilities) consist of:

(In thousands)		2013				2012
Current deferred tax assets		$	37,538			$	20,473
Current deferred tax liabilities		—				(3,337		)
Net current deferred tax assets		37,538				17,136
Non-current deferred tax assets		62,871				110,762
Non-current deferred tax liabilities		(187,769		)		(170,886		)
Net non-current deferred tax liabilities		(124,898		)		(60,124		)
Net deferred tax liabilities		$	(87,360	)		$	(42,988	)

Tax Years Subject to Examination by Major Taxing Jurisdictions

Tax years subject to examination by major taxing jurisdictions are as follows:

Jurisdiction		Years
United States		2008 - 2013
Canada		2011 - 2013
Arkansas		2010 - 2013
California		2009 - 2013
Georgia		2010 - 2013
Idaho		2011 - 2013
Illinois		2008 - 2013
Wisconsin		2009 - 2013

Tax Credits and Losses Subject to Expiration by Major Taxing Jurisdictions

Tax credits and losses subject to expiration by major taxing jurisdictions are as follows (dollars in thousands):

Jurisdiction		Gross Values				Years
United States
Net operating losses		$	27,428			2030 - 2033
Foreign tax credits		3,832				2016 - 2019
Cellulosic biofuel credits		3,495				2015
Other federal tax credits		4,264				2026 - 2033
Connecticut tax losses		20,385				2018 - 2033
Georgia tax losses		7,267				2027 - 2033
Idaho tax credits		4,851				2013 - 2027
North Carolina tax credits		15,966				2015 - 2017
Oklahoma tax losses		35,122				2030 - 2033

Roll Forward of Unrecognized Tax Benefits and Associated Interest and Penalties Included in the Accrued Taxes line item in non-current liabilities

The following presents a roll forward of our unrecognized tax benefits and associated interest and penalties, as included in the Accrued Taxes line item in non-current liabilities in our Consolidated Balance Sheets.

(In thousands)		Gross Unrecognized Tax Benefits, Excluding Interest and Penalties				Interest and Penalties				Total Gross Unrecognized Tax Benefits
Balance at January 1, 2012		$	69,651			$	4,813			$	74,464
Increase in prior year tax positions		2,544				1,882				4,426
Increase in current year tax positions		154				—				154
Reductions as a result of a lapse of the applicable statute of limitations		(345		)		—				(345		)
Balance at December 31, 2012		$	72,004			$	6,695			$	78,699
Decrease in prior year tax positions		(69,816		)		(5,397		)		(75,213		)
Decrease due to settlements		(525		)		(777		)		(1,302		)
Increase in current year tax positions		469				5				474
Balance at December 31, 2013		$	2,132			$	526			$	2,658

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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 of income before income tax between domestic and foreign jurisdictions.

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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.

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Tabular disclosure of income tax examinations that an enterprise is currently subject to or that have been completed in the current period typically including a description of the examination, the jurisdiction conducting the examination, the tax year(s) under examination, the likelihood of an unfavorable settlement, the range of possible losses, the liability recorded, the increase or decrease in the liability from the prior period, and any penalties and interest that have been recorded.

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Tabular disclosure of tax credit carryforwards available to reduce future taxable income, including amounts, expiration dates, limitations on use and the related deferred tax assets and valuation allowances.

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