Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Provision For Income Taxes

Provision for income taxes for the years ended December 31 consists of the following (in thousands):

	2014			2013			2012
Current:
Federal	$	394,904		$	281,938		$	191,006
State	30,997			23,701			4,221
Foreign	20,429			22,093			13,189
	446,330			327,732			208,416
Deferred:
Federal	(5,743		)	51,509			121,934
State	(3,155		)	(1,471		)	7,697
Foreign	1,277			2,542			(460		)
	(7,621		)	52,580			129,171
Total	$	438,709		$	380,312		$	337,587

Components Of Income Before Taxes

The components of income before income taxes for the years ended December 31 were as follows (in thousands):

	2014		2013		2012
Domestic	$	1,196,335	$	1,042,317	$	946,592
Foreign	86,985		71,988		14,920
Total	$	1,283,320	$	1,114,305	$	961,512

Provision For Income Tax Rate To Statutory Rate Reconciliation

The provision for income taxes differs from the amount that would be provided by applying the statutory U.S. corporate income tax rate due to the following items for the years ended December 31:

	2014		2013		2012
Provision at statutory rate	35.0	%	35.0	%	35.0	%
State taxes, net of federal benefit	1.7		1.6		1.6
Domestic manufacturing deduction	(2.1	)	(1.7	)	(1.6	)
Research and development credit	(0.4	)	(0.9	)	—
Unrecognized tax benefits including interest and penalties	0.2		0.9		0.1
Valuation allowance adjustments	(0.1	)	(0.3	)	(0.3	)
Tax audit settlements	—		0.1		(0.1	)
Adjustments for previously accrued taxes	(0.3	)	(0.2	)	(0.4	)
Other	0.2		(0.4	)	0.8
Provision for income taxes	34.2	%	34.1	%	35.1	%

Principal Components Of The Company's Deferred Tax Assets And Liabilities

The principal components of the Company’s deferred tax assets and liabilities as of December 31 include the following (in thousands):

	2014			2013
Deferred tax assets:
Accruals not yet tax deductible	$	120,817		$	128,307
Pension and postretirement benefit plan obligations	104,723			5,192
Stock compensation	21,089			22,370
Net operating loss carryforward	41,927			40,530
Valuation allowance	(25,462		)	(21,818		)
Other, net	38,465			37,034
	301,559			211,615
Deferred tax liabilities:
Depreciation, tax in excess of book	(128,117		)	(119,916		)
Other	(5,691		)	(34,234		)
	(133,808		)	(154,150		)
Total	$	167,751		$	57,465

Changes In Gross Liability For Unrecognized Tax Benefits Excluding Interest And Penalties

The Company recognizes interest and penalties related to unrecognized tax benefits in the provision for income taxes. Changes in the Company’s gross liability for unrecognized tax benefits, excluding interest and penalties, were as follows (in thousands):

	2014			2013
Unrecognized tax benefits, beginning of period	$	63,057		$	48,752
Increase in unrecognized tax benefits for tax positions taken in a prior period	900			9,713
Decrease in unrecognized tax benefits for tax positions taken in a prior period	(4,989		)	(4,335		)
Increase in unrecognized tax benefits for tax positions taken in the current period	5,876			11,142
Statute lapses	—			(336		)
Settlements with taxing authorities	(644		)	(1,879		)
Unrecognized tax benefits, end of period	$	64,200		$	63,057