Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Components of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities are as follows:

	2015		2014
	(In Thousands)
Deferred tax assets related to:
Expenses not yet deducted for tax purposes	$	318,368	$	337,792
Pension liability not yet deducted for tax purposes		347,263		341,904
		665,631		679,696
Deferred tax liabilities related to:
Employee and retiree benefits		249,126		227,926
Inventory		147,199		152,913
Other intangible assets		111,305		105,482
Property, plant, and equipment		58,496		59,600
Other		31,664		30,641
		597,790		576,562
Net deferred tax assets		67,841		103,134
Current portion of deferred tax assets		—		(30,282	)
Noncurrent net deferred tax assets	$	67,841	$	72,852

Components of Income before Income Taxes

The components of income before income taxes are as follows:

	2015		2014		2013
	(In Thousands)
United States	$	1,004,919	$	978,824	$	850,866
Foreign		118,762		138,915		193,438
Income before income taxes	$	1,123,681	$	1,117,739	$	1,044,304

Components of Income Tax Expense

The components of income tax expense are as follows:

	2015		2014		2013
	(In Thousands)
Current:
Federal	$	309,403	$	224,591	$	303,016
State		45,460		43,513		47,010
Foreign		27,602		84,030		30,941
Deferred		35,544		54,319		(21,622	)
	$	418,009	$	406,453	$	359,345

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:

	2015			2014			2013
	(In Thousands)
Statutory rate applied to income	$	393,288		$	391,209		$	365,506
Plus state income taxes, net of Federal tax benefit		32,295			32,646			28,823
Earnings in jurisdictions taxed at rates different from the statutory US tax rate		(13,684	)		(3,453	)		(37,873	)
Foreign tax credit		(264	)		(20,170	)		—
Capital loss expiration		—			—			16,803
Reversal of capital loss valuation allowance		—			—			(16,803	)
Other		6,374			6,221			2,889
	$	418,009		$	406,453		$	359,345

Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits

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

	2015			2014			2013
	(In Thousands)
Balance at beginning of year	$	17,581		$	47,190		$	45,455
Additions based on tax positions related to the current year		1,969			3,303			3,238
Additions for tax positions of prior years		61			6,415			3,759
Reductions for tax positions for prior years		(3,152	)		(851	)		(1,472	)
Reduction for lapse in statute of limitations		(425	)		(481	)		(1,714	)
Settlements		(219	)		(37,995	)		(2,076	)
Balance at end of year	$	15,815		$	17,581		$	47,190