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Income Taxes
3 Months Ended
Jun. 30, 2013
Income Taxes (Thousands of Dollars) [Abstract]  
Income Taxes
(5) Income Taxes

The Company and its subsidiaries file income tax returns in the United States and various state and international jurisdictions. In the normal course of business, the Company is regularly audited by U.S. federal, state and local and international tax authorities in various tax jurisdictions. The Company is no longer subject to U.S. federal income tax examinations for years before 2008. With few exceptions, the Company is no longer subject to U.S. state or local and non-U.S. income tax examinations by tax authorities in its major jurisdictions for years before 2006. The U.S. Internal Revenue Service has nearly completed an examination related to the 2008 and 2009 U.S. federal income tax returns. The Company is also under income tax examination in several U.S. state and local and non-U.S. jurisdictions. In connection with the Mexican tax examinations for the years 2000 to 2007, the Company has received tax assessments totaling approximately $245,130 (at June 30, 2013 exchange rates), which include interest, penalties and inflation updates, related to transfer pricing which the Company is vigorously defending. In order to continue the process of defending its position, the Company was required to guarantee the amount of the assessments for the years 2000 to 2004, as is usual and customary in Mexico with respect to these matters. Accordingly, as of June 30, 2013, bonds totaling approximately $184,990 (at June 30, 2013 exchange rates) have been provided to the Mexican government related to the 2000 to 2004 assessments, allowing the Company to defend its positions. The Company is not currently required to guarantee the amounts of the 2005, 2006 and 2007 assessments. The Company expects to be successful in sustaining its position with respect to these assessments as well as similar positions that may be taken by the Mexican tax authorities for periods subsequent to 2007.

At June 30, 2013, the Company has liabilities for unrecognized tax benefits of $123,085 which are included as a component of other liabilities in the consolidated balance sheets. The Company believes that it is reasonably possible that certain tax examinations may be concluded and statutes of limitations will expire within the next twelve months, and that these liabilities , inclusive of potential interest and penalties, may decrease by up to approximately $68,000.  This may result in the recognition of an income tax benefit of up to $24,000 and the reversal of approximately $16,000 of deferred tax assets, and an increase to accrued income taxes of $28,000. The unrecognized tax benefits primarily relate to both the timing and the nature of the deductibility of certain expenses, as well as the tax treatment of certain subsidiary and other transactions.