Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Taxes

Schedule of current and deferred federal and state income tax expense (benefit)

The current and deferred federal and state income tax expense (benefit) for the years ended December 31 is as follows (in thousands):

	2014			2013		2012
Current income tax expense	$	94,312		$	72,599	$	11,334
Deferred income tax expense (benefit)		(21,159	)		26,715		50,451
Total income tax expense	$	73,153		$	99,314	$	61,785

Schedule of reconciliation of statutory tax rates to actual effective tax rates

	2014			2013			2012
Statutory federal tax rate		35.0	%		35.0	%		35.0	%
State income taxes, net of federal benefit		4.6			3.8			3.4
Domestic manufacturing deduction		(4.8	)		(2.0	)		(2.3	)
Noncontrolling interests		13.9			3.4			3.6
Federal research and development tax credits		(1.5	)		(2.5	)		—
Audit settlements		—			—			(9.6	)
Other permanent differences		(2.8	)		0.1			0.2
Effective tax rate		44.4	%		37.8	%		30.3	%

Schedule of components of deferred tax assets and liabilities

Significant components of the company's deferred tax assets and liabilities at December 31 are as follows (in thousands):

	2014			2013
Deferred tax assets
Accrued expenses and allowances	$	22,780		$	23,497
Inventories		20,546			3,621
Net operating loss carryforwards		33,347			18,690
Other		5,571			6,238
Subtotal		82,244			52,046
Less: valuation allowance		(21,586	)		(10,641	)
Total net deferred tax assets		60,658			41,405
Deferred tax liabilities
Property, plant and equipment		(449,939	)		(474,088	)
Intangible assets		(108,840	)		(94,936	)
Other		(8,359	)		(10,426	)
Total deferred tax liabilities		(567,138	)		(579,450	)
Net deferred tax liability	$	(506,480	)	$	(538,045	)

Schedule of reconciliation of beginning and ending amount of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):

	2014			2013			2012
Balance at January 1	$	26,564		$	22,245		$	64,555
Increases related to current year tax positions		1,050			1,050			—
Increases related to prior year tax positions		653			3,760			741
Decreases related to prior year tax positions		(2,298	)		(491	)		(40,741	)
Settlements with taxing authorities		(8,631	)		—			(2,310	)
Balance at December 31	$	17,338		$	26,564		$	22,245