Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Taxes

Schedule of provision for income taxes

	2013		2012		2011
	(in thousands)
Currently payable:
Federal	$	131,000		104,922		93,677
State		12,197		9,335		9,033
Foreign		37		—		—
		143,234		114,257		102,710
Deferred taxes		(3,001)		(5,782)		2,004
Provision for income taxes	$	140,233		108,475		104,714

Schedule of reconciliation of statutory federal income tax rate with effective income tax rate

	2013		2012		2011
Statutory federal income tax rate		35.0%		35.0%		35.0%
State income taxes, net of federal tax benefits		2.2		2.2		2.4
State tax incentives		(0.1)		(0.2)		(0.2)
Valuation allowance on losses capital in nature		(1.8)		(0.8)		(0.2)
Other items		0.4		(0.2)		0.8
Effective income tax rate		35.7%		36.0%		37.8%

Schedule of deferred tax liabilities and deferred tax assets

	2013		2012
	(in thousands)
Deferred tax liabilities:
Deferred sales commissions	$	(6,928)		(7,405)
Property and equipment		(6,706)		(8,010)
Benefit plans		(10,620)		(9,723)
Identifiable intangible assets		(16,697)		(16,041)
Unrealized gains on investment securities		(1,853)		(1,084)
Prepaid expenses		(2,100)		(2,138)
Total gross deferred liabilities		(44,904)		(44,401)
Deferred tax assets:
Accrued compensation		10,893		8,491
Additional pension and postretirement liability		11,663		28,935
Other accrued expenses		5,151		5,167
Unrealized losses on investment securities		962		843
Unrealized losses on investment in partnerships		2,031		789
Capital loss carryforwards		9,474		169
Excess tax basis on investment in subsidiary		—		17,921
Nonvested stock		21,860		21,070
Unused state tax credits		866		972
State net operating loss carryforwards		6,521		6,284
Other		3,962		4,230
Total gross deferred assets		73,383		94,871
Valuation allowance		(16,986)		(24,695)
Net deferred tax asset	$	11,493		25,775

Summary of the Company's reconciliation of unrecognized tax benefits, excluding penalties and interest

	2013		2012		2011
	(in thousands)
Balance at January 1	$	8,322		7,467		4,759
Increases during the year:
Gross increases - tax positions in prior period		644		275		1,684
Gross increases - current-period tax positions		1,355		2,215		1,844
Decreases during the year:
Gross decreases - tax positions in prior period		(71)		(429)		(183)
Decreases due to settlements with taxing authorities		(154)		-		-
Decreases due to lapse of statute of limitations		(1,083)		(1,206)		(637)
Balance at December 31	$	9,013		8,322		7,467