INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

INCOME TAXES [Abstract]

Components of Earnings From Continuing Operations before Income Taxes

in millions	2022	2021	2020
Earnings from Continuing Operations
before Income Taxes
Domestic	$          788.7	$        871.6	$        733.0
Foreign	(0.6)	2.2	10.8
Total	$          788.1	$        873.8	$        743.8

Provision (Benefit) For Income Taxes from Continuing Operations

in millions	2022	2021	2020
Income Tax Expense (Benefit) from
Continuing Operations
Current
Federal	$           85.2	$        103.9	$          69.2
State and local	43.6	34.6	23.8
Foreign	4.6	(5.0)	0.9
Total	$         133.4	$        133.5	$          93.9
Deferred
Federal	$           43.4	$          39.2	$          50.9
State and local	3.3	26.5	10.8
Foreign	12.9	0.9	0.2
Total	$           59.6	$          66.6	$          61.9
Total expense	$         193.0	$        200.1	$        155.8

Sources and Tax Effects of Differences Between Benefit from Income Taxes and Amount Computed by Applying Federal Statutory Income Tax Rate to Earnings from Continuing Operations before Income Taxes

dollars in millions	2022		2021		2020
Income tax expense at the federal
statutory tax rate	$       165.5	21.0%	$       183.5	21.0%	$       156.2	21.0%
Expense (Benefit) from
Income Tax Differences
Statutory depletion	(30.6)	-3.9%	(28.3)	-3.2%	(24.7)	-3.3%
State and local income taxes, net of federal
income tax benefit	37.5	4.8%	34.7	4.0%	27.4	3.7%
Share-based compensation	(4.9)	-0.6%	(6.1)	-0.7%	(6.9)	-0.9%
Uncertain tax positions	5.1	0.7%	2.5	0.3%	1.4	0.2%
Valuation allowance	14.5	1.8%	13.7	1.6%	0.0	0.0%
Research and development credit	(4.3)	-0.6%	(2.7)	-0.3%	(2.7)	-0.4%
Impairment	10.7	1.4%	0.0	0.0%	0.0	0.0%
Other, net	(0.5)	-0.1%	2.8	0.2%	5.1	0.6%
Total income tax expense/
Effective tax rate	$       193.0	24.5%	$       200.1	22.9%	$       155.8	20.9%

Components of Net Deferred Income Tax Liability

in millions	2022	2021
Deferred Tax Assets Related to
Employee benefits	$           14.2	$          11.8
Incentive compensation	62.1	62.5
Asset retirement obligations & other reserves	82.5	77.9
State net operating losses	86.3	95.0
State bonus depreciation	41.4	30.1
Operating lease liabilities	149.7	176.7
Other	72.0	59.1
Total gross deferred tax assets	$         508.2	$        513.1
Valuation allowance	(76.8)	(65.7)
Total net deferred tax asset	$         431.4	$        447.4
Deferred Tax Liabilities Related to
Property, plant & equipment	$         889.4	$        824.4
Goodwill/other intangible assets	379.2	380.2
Operating lease right-of-use assets	143.6	176.7
Other	92.0	72.0
Total deferred tax liabilities	$      1,504.2	$     1,453.3
Net deferred tax liability	$      1,072.8	$     1,005.9

Changes in Unrecognized Income Tax Benefits

in millions	2022	2021	2020
Unrecognized tax benefits as of January 1	$           10.8	$            6.8	$            5.4
Increases for tax positions related to
Prior years	4.6	0.5	0.4
Current year	6.6	3.9	1.9
Decreases for tax positions related to
Prior years	(0.2)	0.0	0.0
Expiration of applicable statute of limitations	(3.1)	(0.4)	(0.9)
Unrecognized tax benefits as of December 31	$           18.7	$          10.8	$            6.8