Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Components Of Income Before Taxes

The components of income before taxes are as follows:

	2013		2012		2011
Domestic	$	544.5	$	481.8	$	441.1
Foreign		53.3		60.7		53.5
Total	$	597.8	$	542.5	$	494.6

Schedule Of U.S. Federal, State And Foreign Income Taxes

The following table summarizes the provision for U.S. federal, state and foreign income taxes:

	2013			2012		2011
Current:
U.S. federal	$	151.7		$	132.0	$	92.7
State		24.7			27.7		16.3
Foreign		15.9			19.8		16.6
		192.3			179.5		125.6
Deferred:
U.S. federal		12.6			11.4		48.7
State		(1.7	)		1.6		(3.3	)
Foreign		0.2			0.2		14.0
		11.1			13.2		59.4
Total provision	$	203.4		$	192.7	$	185.0

Components Of Deferred Tax Assets And Liabilities

Deferred tax assets (liabilities) consist of the following at December 31:

	2013			2012
Deferred tax assets:
Accounts receivable	$	4.4		$	6.5
Deferred compensation		57.2			49.7
Pension, postretirement and postemployment benefits		9.7			16.5
Reserves		31.6			26.1
Tax credit carryforwards/other tax attributes		1.5			1.2
International operating loss carryforwards		8.1			9.2
Total gross deferred tax assets		112.5			109.2
Valuation allowances		(13.0	)		(15.7	)
Total deferred tax assets		99.5			93.5
Deferred tax liabilities:
Goodwill		(159.7	)		(145.1	)
Tradenames and other intangibles		(292.2	)		(289.4	)
Property, plant and equipment		(106.2	)		(108.8	)
Total deferred tax liabilities		(558.1	)		(543.3	)
Net deferred tax liability	$	(458.6	)	$	(449.8	)
Current net deferred tax asset	$	16.6		$	17.6
Long term net deferred tax asset		0.8			2.6
Long term net deferred tax liability		(476.0	)		(470.0	)
Net deferred tax liability	$	(458.6	)	$	(449.8	)

Effective Tax Rate Reconciliation

The difference between tax expense and the tax that would result from the application of the federal statutory rate is as follows:

	2013			2012			2011
Statutory rate		35	%		35	%		35	%
Tax that would result from use of the federal statutory rate	$	209.2		$	189.9		$	173.1
State and local income tax, net of federal effect		14.9			19.0			12.1
Varying tax rates of foreign affiliates		(3.1	)		(1.8	)		(2.5	)
Benefit from domestic manufacturing deduction		(13.2	)		(11.6	)		(8.3	)
Resolution of tax contingencies		0.0			(3.2	)		(3.7	)
Valuation Allowances		0.6			0.6			14.3
Other		(5.0	)		(0.2	)		0.0
Recorded tax expense	$	203.4		$	192.7		$	185.0
Effective tax rate		34.0	%		35.5	%		37.4	%

Reconciliation Of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	2013			2012			2011
Unrecognized tax benefits at January 1	$	9.1		$	13.1		$	24.6
Gross increases—tax positions in prior period		0.9			1.9			1.0
Gross decreases—tax positions in prior period		0.0			(3.2	)		(5.5	)
Settlements		(3.7	)		(2.6	)		(6.8	)
Lapse of statute of limitations		(0.4	)		(0.1	)		(0.2	)
Unrecognized tax benefits at December 31	$	5.9		$	9.1		$	13.1