Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Deferred Tax Assets and Liabilities

Significant components of our deferred tax assets and liabilities are as follows:

	2022		2021
Deferred tax assets related to:
Expenses not yet deducted for tax purposes	$	312,445	$	301,302
Operating lease liabilities	314,804		300,705
Pension liability not yet deducted for tax purposes	168,925		171,256
Capital loss	—		7,333
Net operating loss	49,787		48,865
	845,961		829,461
Deferred tax liabilities related to:
Employee and retiree benefits	225,947		235,847
Inventory	77,866		87,062
Operating lease assets	305,885		295,801
Other intangible assets	468,733		365,557
Property, plant and equipment	91,706		72,740
Other	38,597		18,176
	1,208,734		1,075,183
Net deferred tax liability before valuation allowance	(362,773)		(245,722)
Valuation allowance	(27,362)		(34,227)
Total net deferred tax liability	$	(390,135)	$	(279,949)

Schedule of Components of Income before Income Taxes

The components of income before income taxes are as follows:

	2022		2021		2020
United States	$	1,100,584	$	762,472	$	706,594
Foreign	472,018		437,874		(327,226)
Income before income taxes	$	1,572,602	$	1,200,346	$	379,368

Schedule of Components of Income Tax Expense

The components of income tax expense are as follows:

	2022		2021		2020
Current:
Federal	$	196,634	$	116,425	$	130,680
State	70,453		34,311		35,474
Foreign	120,594		119,144		77,541
Deferred:
Federal	12,727		24,233		2,048
State	4,981		9,485		801
Foreign	(15,488)		(2,042)		(30,571)
	$	389,901	$	301,556	$	215,973

Schedule of Difference Between Total Tax Expense and Amount Computed by Applying Statutory Federal Income Tax Rate

The reasons for the difference between total tax expense and the amount computed by applying the statutory Federal income tax rate to income before income taxes are as follows:

	2022		2021		2020
Statutory rate applied to income (1)	$	330,246	$	252,073	$	79,667
Plus state income taxes, net of Federal tax benefit	59,593		34,599		28,658
Taxation of foreign operations, net (2)	3,347		2,299		(9,072)
Non-deductible goodwill impairment tax effect	—		—		106,411
Foreign rate change - deferred tax remeasurement	—		17,032		9,045
Valuation allowance	(7,153)		(2,486)		1,995
Other	3,868		(1,961)		(731)
	$	389,901	$	301,556	$	215,973

(1)U.S. statutory rates applied to income are as follows: 2022, 2021 and 2020 at 21%.

(2)Our effective tax rate reflects the impact of having operations outside of the U.S. which are taxed at statutory rates different from the U.S. statutory rate, with some income being fully or partially exempt from income taxes due to various operating and financing activities.

Schedule of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits

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

	2022		2021		2020
Balance at beginning of year	$	19,501	$	23,237	$	21,461
Additions based on tax positions related to the current year	1,475		2,196		3,771
Additions for tax positions of prior years	89		156		3,480
Reductions for tax positions for prior years	(523)		(733)		(1,382)
Reduction for lapse in statute of limitations	(921)		(2,843)		(3,765)
Settlements	—		(2,512)		(328)
Balance at end of year	$	19,621	$	19,501	$	23,237