Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of Components of Income Tax Expense

Income tax expense (benefit) includes the following components:



	Federal			State		Foreign	Total
2015
Current	$	95,046		16,973		147,174	259,193
Deferred	17,631			368		—	17,999
	$	112,677		17,341		147,174	277,192
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

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:



	2015		2014		2013
Computed “expected” tax expense	$	257,841	213,811		200,408
Increase in income taxes resulting from:
State income taxes, net of Federal income tax benefit	11,272		10,751		10,758
Nondeductible stock compensation expense, net	5,241		8,069		9,927
Other, net	2,838		(1,202	)	1,492
	$	277,192	231,429		222,585

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

The components of earnings before income taxes are as follows:



	2015		2014	2013
United States	$	236,932	211,588	192,850
Foreign	499,757		399,301	379,746
	$	736,689	610,889	572,596

Schedule 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,	2015			2014
Deferred Tax Assets:
Accrued third party obligations, deductible for taxes upon economic performance	$	14,473		17,769
Provision for doubtful accounts receivable	1,041			957
Excess of financial statement over tax depreciation	10,349			10,905
Deductible stock compensation expense, net	18,910			15,122
Foreign currency translation adjustment	44,519			20,719
Retained liability for cargo claims	1,350			1,555
Total gross deferred tax assets	90,642			67,027
Deferred Tax Liabilities:
Unremitted foreign earnings, net of related foreign tax credits	(100,170		)	(82,262	)
Total gross deferred tax liabilities	$	(100,170	)	(82,262	)
Net deferred tax liabilities	$	(9,528	)	(15,235	)
Current deferred tax assets	$	(16,861	)	(20,279	)
Noncurrent deferred tax liabilities	$	(26,389	)	(35,514	)