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Income Taxes (Notes)
 12 Months Ended
Dec. 29, 2018
Income Tax Disclosure [Abstract]  
Income Taxes
(6)    Income Taxes
On December 22, 2017, the Tax Cuts and Jobs Act of 2017 (Tax Act) was signed into law making significant changes to the Internal Revenue Code. Changes included, among others, a decrease in the federal statutory income tax rate from 35% to 21% beginning in 2018.
Total income taxes for 2018, 2017 and 2016 were allocated as follows:
 
 
2018
 
2017
 
2016
 
 
(Amounts are in thousands)
Earnings
 
$
539,801


735,612


914,688

Other comprehensive (losses) earnings
 
(3,440
)

64,324


(1,789
)
 
 
$
536,361

 
799,936

 
912,899


The provision for income taxes consists of the following:
 
 
Current
 
Deferred
 
Total
 
 
(Amounts are in thousands)
2018
 
 
 
 
 
 
Federal
 
$
413,735

 
59,377

 
473,112

State
 
62,821

 
3,868

 
66,689

 
 
$
476,556

 
63,245

 
539,801

2017
 
 
 
 
 
 
Federal
 
$
771,355

 
(113,620
)
 
657,735

State
 
64,113

 
13,764

 
77,877

 
 
$
835,468

 
(99,856
)
 
735,612

2016
 
 
 
 
 
 
Federal
 
$
820,989

 
20,697

 
841,686

State
 
69,342

 
3,660

 
73,002

 
 
$
890,331

 
24,357

 
914,688


A reconciliation of the provision for income taxes at the federal statutory income tax rate of 21% for 2018 and 35% for 2017 and 2016 to earnings before income taxes compared to the Company’s actual income tax expense is as follows:
 
 
2018
 
2017
 
2016
 
 
(Amounts are in thousands)
Federal tax at statutory income tax rate
 
$
613,403

 
1,059,627

 
1,029,132

State income taxes (net of federal tax benefit)
 
52,684

 
50,621

 
47,451

ESOP dividend
 
(41,175
)
 
(65,111
)
 
(65,232
)
Other, net
 
(85,111
)
 
(85,330
)
 
(96,663
)
Remeasurement of deferred income taxes
 
—

 
(224,195
)
 
—

 
 
$
539,801


735,612


914,688


The impact of the reduction of the federal statutory income tax rate decreased the Company’s income tax expense for 2017 by $224,195,000 due to the remeasurement of deferred income taxes. The Company had no incomplete or provisional amounts in the remeasurement of deferred income taxes.

The tax effects of temporary differences that give rise to significant portions of deferred income taxes as of December 29, 2018 and December 30, 2017 are as follows:
 
 
2018
 
2017
 
 
(Amounts are in thousands)
Deferred tax liabilities and (assets):
 
 
 
 
Property, plant and equipment
 
$
581,290

 
487,026

Inventories
 
25,989

 
23,784

Self-insurance reserves
 
(79,467
)
 
(77,783
)
Retirement plan contributions
 
(41,424
)
 
(42,547
)
Postretirement benefit cost
 
(28,224
)
 
(30,226
)
Purchase allowances
 
(11,114
)
 
(9,967
)
Investments
 
(10,811
)
 
30,090

Lease accounting
 
(4,662
)
 
(8,576
)
Other
 
(10,820
)
 
(10,849
)
 
 
$
420,757

 
360,952


The Company expects the results of future operations and the reversal of deferred tax liabilities to generate sufficient taxable income to allow utilization of deferred tax assets; therefore, no valuation allowance has been recorded as of December 29, 2018 and December 30, 2017.
The Company has analyzed filing positions in all of the federal and state jurisdictions where it is required to file income tax returns as well as all open tax years in these jurisdictions. The periods subject to examination for the Company’s federal income tax returns are the 2015 through 2017 tax years. The periods subject to examination for the Company’s state income tax returns are the 2011 through 2017 tax years. The Company believes that the outcome of any examinations will not have a material effect on its financial condition, results of operations or cash flows.
The Company had no unrecognized tax benefits in 2018 and 2017. As a result, there will be no effect on the Company’s effective income tax rate in future periods due to the recognition of unrecognized tax benefits.