XML 72 R45.htm IDEA: XBRL DOCUMENT

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

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

The components of income from continuing operations before taxes and income from equity investment for the years ended December 31, 2012, 2011 and 2010 were as follows (dollars in thousands):



	2012		2011		2010
United States	$	5,716	$	98,050	$	89,132
Foreign	77,680		59,974		19,701
Total	$	83,396	$	158,024	$	108,833

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The components of the provision for income taxes on continuing operations for the years ended December 31, 2012, 2011 and 2010 were as follows (dollars in thousands):



	2012		2011		2010
United States:
Current
Federal	$	3,582	$	5,652	$	5,105
State	3,752		3,686		2,728
Deferred
Federal	17,382		12,578		14,037
State	906		1,535		2,759
	25,622		23,451		24,629
Foreign:
Current	9,907		6,488		8,967
Deferred	10,873		8,592		(3,432		)
	20,780		15,080		5,535
Total	$	46,402	$	38,531	$	30,164

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

The following is a summary of the effective tax rate reconciliation for the years ended December 31, 2012, 2011 and 2010:



	2012		2011		2010
Tax provision at statutory rate	35.0	%	35.0	%	35.0	%
Effect of acquisitions/divestitures	24.8	%	(3.1	)%	—	%
Effect of foreign operations	(7.7	)%	(2.9	)%	(1.2	)%
State income taxes, net of federal income tax benefit	3.8	%	2.3	%	3.1	%
Benefit of track maintenance credit	—	%	(6.5	)%	(9.3	)%
Other, net	(0.3	)%	(0.4	)%	0.1	%
Effective income tax rate	55.6	%	24.4	%	27.7	%

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

The components of net deferred income taxes as of December 31, 2012 and 2011 were as follows (dollars in thousands):



	2012			2011
Deferred tax assets:
Accruals and reserves not deducted for tax purposes until paid	$	15,824		$	4,290
Net operating loss carryforwards	52,863			1,306
Capital loss carryforward	—			5,251
Interest rate swaps	7			2,547
Nonshareholder contributions	4,799			1,622
Deferred compensation	2,175			2,473
Postretirement benefits	2,328			801
Share-based compensation	11,328			4,358
Foreign tax credit	1,964			1,964
Track maintenance credit	129,486			38,238
Alternative minimum tax credit	1,356			—
Other	451			87
	222,581			62,937
Valuation allowance	(8,613		)	(5,251		)
Deferred tax liabilities:
Property basis difference	(1,003,990		)	(321,365		)
Other	(1,843		)	(1,299		)
Net deferred tax liabilities	$	(791,865	)	$	(264,978	)

Summary of Valuation Allowance [Table Text Block]

A reconciliation of the beginning and ending amount of the Company's valuation allowance is as follows (dollars in thousands):



	2012
Balance at beginning of year	$	5,251
Expiration of capital loss carryforwards	(5,251		)
Increase for RailAmerica net operating losses	8,613
Balance at end of year	$	8,613

Summary of Income Tax Contingencies [Table Text Block]

A reconciliation of the beginning and ending amount of the Company’s liability for uncertain tax positions is as follows (dollars in thousands):



	2012			2011		2010
Balance at beginning of year	$	—		$	—	$	146
Increase for acquired subsidiary	3,370			—		—
Increase for tax positions related to the current year	—			—		—
Settlements and lapse of statutes of limitations	—			—		(146		)
Reductions for tax positions of prior years	(215		)	—		—
Balance at end of year	$	3,155		$	—	$	—

Summary of Income Tax Examinations [Table Text Block]

As of December 31, 2012, the following tax years remain open to examination by the major taxing jurisdictions to which the Company is subject:



	Open Tax Years
Jurisdiction	From		To
United States	2001	-	2012
Australia	2010	-	2012
Canada	2008	-	2012
Mexico	2007	-	2012
Netherlands	2009	-	2012

- 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+ Details

- Definition

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.

+ References+ Details

- Definition

Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

+ References+ Details