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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2019
Income Tax Disclosure [Abstract]  
Components of Income before Tax, Domestic and Foreign
Income from continuing operations before taxes consisted of the following:
 
Years Ended December 31,
 
2019
 
2018
 
2017
U.S.
$
910

 
$
109,393

 
$
135,636

International
26,232

 
78,728

 
58,062

Total
$
27,142

 
$
188,121

 
$
193,698
Components of Income Tax Expense (Benefit)
The (benefit) provision for income taxes from continuing operations consisted of the following:
 
Years Ended December 31,
 
2019
 
2018
 
2017
U.S. Federal:
 
 
 
 
 
Current
$
(18,789
)
 
$
(56,743
)
 
$
25,774

Deferred
11,577

 
61,514

 
(23,863
)
 
(7,212
)
 
4,771

 
1,911

U.S. State and Local:
 
 
 
 
 
Current
(9,142
)
 
(12,214
)
 
(3,022
)
Deferred
8,043

 
866

 
13,426

 
(1,099
)
 
(11,348
)
 
10,404

International:
 
 
 
 
 
Current
9,993

 
11,308

 
(7,679
)
Deferred
(14,689
)
 
1,685

 
9,023

 
(4,696
)
 
12,993

 
1,344

 
 
 
 
 
 
Total current
(17,938
)
 
(57,649
)
 
15,073

Total deferred
4,931

 
64,065

 
(1,414
)
Total (benefit) provision for income taxes
$
(13,007
)
 
$
6,416

 
$
13,659

 
 
 
 
 
 
Effective tax rate
(47.9
)%
 
3.4
%
 
7.1
%
Reconciliation of Effective Income Tax Rate Reconciliation
A reconciliation of income taxes computed at the federal statutory rate and our provision for income taxes consist of the following:
 
Years Ended December 31,
 
2019
 
2018
 
2017
Federal statutory provision
$
5,700

 
$
39,505

 
$
67,794

State and local income taxes (1)
(868
)
 
1,292

 
3,739

Impact of foreign operations taxed at rates other than the U.S. statutory rate (2)
(18,541
)
 
(2,483
)
 
(12,054
)
Accrual/release of uncertain tax amounts related to foreign operations
191

 
(4,595
)
 
(17,919
)
U.S. tax impacts of foreign income in the U.S.
5,587

 
5,854

 
1,750

Tax incentives/credits/exempt income
(5,437
)
 
3,526

 
(14,587
)
Unrealized stock compensation benefits
2,176

 
1,941

 
3,778

Remeasurement of U.S. deferred taxes
—

 
(13,121
)
 
(108,176
)
U.S. tax on unremitted earnings
—

 
(23,711
)
 
90,916

Other, net (3)
(1,815
)
 
(1,792
)
 
(1,582
)
(Benefit) provision for income taxes
$
(13,007
)
 
$
6,416

 
$
13,659


(1) 
Includes release of tax uncertainties of $(3) million, $(9) million and $(3) million for the years ended December 31, 2019, 2018 and 2017, respectively.
(2) 
Includes foreign valuation allowance release of $23 million and $3 million tax on Market Exits for the year ended December 31, 2019.
(3)
Includes $1 million benefit related to interest for the year ended December 31, 2019.

Components of Deferred Tax Assets and Liabilities
Deferred tax liabilities and assets consisted of the following:
 
December 31,
 
2019
 
2018
Deferred tax liabilities:
 
 
 
Depreciation
$
(69,222
)
 
$
(71,757
)
Deferred profit (for tax purposes) on sale to finance subsidiary
(30,791
)
 
(41,951
)
Lease revenue and related depreciation
(174,083
)
 
(149,176
)
Intangible assets
(88,024
)
 
(98,707
)
Other
(24,941
)
 
(34,425
)
Gross deferred tax liabilities
(387,061
)
 
(396,016
)
 
 
 
 
Deferred tax assets:
 
 
 
Nonpension postretirement benefits
41,015

 
42,422

Pension
43,763

 
60,063

Inventory and equipment capitalization
2,735

 
6,042

Restructuring charges
2,944

 
5,064

Long-term incentives
12,929

 
11,517

Net operating loss
82,673

 
106,029

Tax credit carry forwards
64,430

 
64,148

Tax uncertainties gross-up
6,577

 
6,692

Other
38,247

 
46,623

Gross deferred tax assets
295,313

 
348,600

Less: Valuation allowance
(110,781
)
 
(142,496
)
Net deferred tax assets
184,532

 
206,104

Total deferred taxes, net
$
(202,529
)
 
$
(189,912
)
Tax Uncertainties Roll Forward
A reconciliation of the amount of unrecognized tax benefits is as follows:
 
2019
 
2018
 
2017
Balance at beginning of year
$
71,458

 
$
89,767

 
$
124,728

Increases from prior period positions
510

 
88

 
528

Decreases from prior period positions
(9,711
)
 
(15,145
)
 
(31,470
)
Increases from current period positions
5,052

 
6,001

 
5,951

Decreases relating to settlements with tax authorities
(2,626
)
 
(4,844
)
 
(6,953
)
Reductions from lapse of applicable statute of limitations
(4,381
)
 
(4,409
)
 
(3,017
)
Balance at end of year
$
60,302

 
$
71,458

 
$
89,767