Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Components of Income Tax Expense

Income tax expense (benefit) includes the following components:



	Federal			State		Foreign	Total
2014
Current	$	93,345		17,093		127,567	238,005
Deferred	(6,023		)	(553	)	—	(6,576	)
	$	87,322		16,540		127,567	231,429
2013
Current	$	104,224		17,715		121,621	243,560
Deferred	(19,811		)	(1,164	)	—	(20,975	)
	$	84,413		16,551		121,621	222,585
2012
Current	$	86,606		12,704		106,475	205,785
Deferred	11,864			(225	)	—	11,639
	$	98,470		12,479		106,475	217,424

Schedule of Effective Income Tax Rate Reconciliation

Income tax expense differs from amounts computed by applying the United States Federal income tax rate of 35% to earnings before income taxes as a result of the following:



	2014			2013	2012
Computed “expected” tax expense	$	213,811		200,408	192,638
Increase in income taxes resulting from:
State income taxes, net of Federal income tax benefit	10,751			10,758	8,111
Nondeductible stock compensation expense, net	8,069			9,927	12,061
Other, net	(1,202		)	1,492	4,614
	$	231,429		222,585	217,424

Schedule of U.S. and Foreign Components of Income Before Income Tax Expense/(Benefit)

The components of earnings before income taxes are as follows:



	2014		2013	2012
United States	$	211,588	192,850	179,483
Foreign	399,301		379,746	370,910
	$	610,889	572,596	550,393

Components of Deferred Tax Assets and Liabilities

The tax effects of temporary differences and tax credits that give rise to significant portions of deferred tax assets and deferred tax liabilities are as follows:



Years ended December 31,	2014			2013
Deferred Tax Assets:
Accrued third party obligations, deductible for taxes upon economic performance	$	17,769		16,973
Provision for doubtful accounts receivable	957			756
Excess of financial statement over tax depreciation	10,905			9,852
Deductible stock compensation expense, net	15,122			11,621
Foreign currency translation adjustment	20,719			3,432
Retained liability for cargo claims	1,555			802
Total gross deferred tax assets	67,027			43,436
Deferred Tax Liabilities:
Unremitted foreign earnings, net of related foreign tax credits	(82,262		)	(83,186	)
Other	—			(135	)
Total gross deferred tax liabilities	$	(82,262	)	(83,321	)
Net deferred tax liabilities	$	(15,235	)	(39,885	)
Current deferred tax assets	$	(20,279	)	(18,396	)
Noncurrent deferred tax liabilities	$	(35,514	)	(58,281	)