Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of Components of Income Tax Expense (Benefit)

The amounts provided for income taxes are as follows:



	Year Ended December 31,
	2013			2012			2011
Current:
U.S. Federal	$	20,808		$	24,246		$	30,458
State	3,521			6,185			8,313
	$	24,329		$	30,431		$	38,771
Deferred:
U.S. Federal	$	596		$	(5,779	)	$	7,765
State	(130		)	(1,557		)	1,601
	466			(7,336		)	9,366
Total	$	24,795		$	23,095		$	48,137

Schedule of Deferred Tax Assets and Liabilities

The tax effect of temporary differences which give rise to a significant portion of deferred tax assets and liabilities are as follows:



	December 31, 2013					December 31, 2012
	Deferred Tax Assets			Deferred Tax Liabilities		Deferred Tax Assets			Deferred Tax Liabilities
Excess of tax basis over book basis- non-consolidated entities	$	4,434		$	3,582	$	3,654		$	—
Employee benefit accruals	19,539			9,378		17,508			2,383
Book/tax differences on fixed and Intangible assets	—			48,086		—			45,439
Book/tax differences on inventory	—			19,213		—			18,165
Book/tax differences on long-term investments	—			30,898		1			—
Impact of accounting on convertible debt	9,202			44,823		16,306			56,346
Impact of timing of settlement payments	56,551			—		32,113			706
Various U.S. state tax loss carryforwards	10,010			—		10,854			—
Other	8,231			27,404		11,625			13,792
Valuation allowance	(6,014		)	—		(6,310		)	—
	$	101,953		$	183,384	$	85,751		$	136,831

Schedule of Effective Income Tax Rate Reconciliation

Differences between the amounts provided for income taxes and amounts computed at the federal statutory tax rate are summarized as follows:



	Year Ended December 31,
	2013			2012			2011
Income before income taxes	$	63,487		$	53,717		$	123,157
Federal income tax expense at statutory rate	22,221			18,801			43,105
Increases (decreases) resulting from:
State income taxes, net of federal income tax benefits	2,204			3,009			6,444
Impact of non-controlling interest	88			—			—
Non-deductible expenses	2,698			3,311			1,974
Impact of domestic production deduction	(1,889		)	(2,026		)	(4,256		)
Tax credits	(433		)	—			—
Changes in valuation allowance, net of equity and tax audit adjustments	(94		)	—			870
Income tax expense	$	24,795		$	23,095		$	48,137

Summary of Income Tax Contingencies

The following table summarizes the activity related to the unrecognized tax benefits:



Balance at January 1, 2011	$	6,768
Additions based on tax positions related to prior years	250
Expirations of the statute of limitations	(421		)
Balance at December 31, 2011	6,597
Additions based on tax positions related to prior years	588
Expirations of the statute of limitations	(916		)
Balance at December 31, 2012	6,269
Additions based on tax positions related to prior years	179
Settlements	(250		)
Expirations of the statute of limitations	(3,076		)
Balance at December 31, 2013	$	3,122

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

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