Income Taxes (Tables)

12 Months Ended

Dec. 31, 2011

Income Taxes (Tables) [Abstract]

Components of Income Tax Expense (Benefit) Table

The provision for income taxes from continuing operations consists of the following:
	Years ended December 31,
	2011		2010		2009
U.S. Federal:
Current	$	(87,713)	$	170,175	$	188,272
Deferred		135,305		(24,632)		18,979
		47,592		145,543		207,251
U.S. State and Local:
Current		31,726		26,523		30,981
Deferred		(15,546)		(17,518)		(13,067)
		16,180		9,005		17,914
International:
Current		66,214		43,459		31,848
Deferred		(85,401)		7,763		(16,859)
		(19,187)		51,222		14,989
Total Current		10,227		240,157		251,101
Total Deferred		34,358		(34,387)		(10,947)
Total provision for income taxes	$	44,585	$	205,770	$	240,154

Components of income from continuing operations by US and International Table

The components of income from continuing operations are as follows:
	Years ended December 31,
	2011		2010		2009
U.S.	$	408,934	$	390,911	$	552,636
International		5,347		143,666		140,540
Total	$	414,281	$	534,577	$	693,176

Reconciliation of statutory rate to effective rate

	2011		2010		2009
Federal statutory provision	$	144,998	$	187,103	$	242,612
State and local income taxes		10,135		5,853		11,109
Impact of foreign operations		(41,669)		13,938		(18,037)
Tax exempt income/reimbursement		(2,674)		(2,352)		(2,748)
Federal income tax credits/incentives		(10,741)		(7,580)		(4,792)
Unrealized stock compensation benefits		3,538		15,149		12,852
U.S. health care reform tax change		-		9,070		-
Outside basis differences		-		(15,798)		-
Goodwill impairment		31,095		-		-
Settlements with the IRS		(90,227)		-		-
Other, net		130		387		(842)
Provision for income taxes	$	44,585	$	205,770	$	240,154

Components of Deferred Tax Assets and Liabilities

The components of our deferred tax liabilities and assets are as follows:
	December 31,
	2011		2010
Deferred tax liabilities:
Depreciation	$	69,092	$	49,351
Deferred profit (for tax purposes) on sale to finance subsidiary		157,397		229,364
Lease revenue and related depreciation		422,541		480,611
Amortizable intangibles		99,980		117,207
Other		49,044		43,813
Deferred tax liabilities		798,054		920,346
Deferred tax assets:
Nonpension postretirement benefits		198,379		104,847
Pension		40,956		127,042
Inventory and equipment capitalization		24,806		28,546
Restructuring charges		8,185		22,348
Long-term incentives		37,019		39,781
Net operating loss and tax credit carry forwards		180,281		153,754
Tax uncertainties gross-up		46,773		144,672
Other		99,996		116,834
Valuation allowance		(111,438)		(104,441)
Deferred tax assets		524,957		633,383
Net deferred tax liabilities		273,097		286,963
Less: amounts included in other balance sheet accounts		97,153		25,845
Deferred taxes on income	$	175,944	$	261,118

Tax Uncertainties Rollforward

	2011		2010		2009
Balance at beginning of year	$	531,790	$	515,565	$	434,164
Increases from prior period positions		67,065		17,775		65,540
Decreases from prior period positions		(140,107)		(27,669)		(7,741)
Increases from current period positions		28,686		43,804		42,696
Decreases from current period positions		-		(8,689)		-
Decreases relating to settlements with tax authorities		(18,204)		(1,434)		(3,173)
Reductions from lapse of applicable statute of limitations		(270,595)		(7,562)		(15,921)
Balance at end of year	$	198,635	$	531,790	$	515,565