Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Tax

Pretax income for 2017, 2016 and 2015 was taxed in the following jurisdictions:

	2017		2016		2015
	(In thousands)
U.S.	$	302,515	$	265,260	$	285,399
Foreign	152,758		103,252		106,946
Total	$	455,273	$	368,512	$	392,345

Schedule of Components of Income Tax

The provision (benefit) for income taxes for 2017, 2016 and 2015, was as follows:

	2017			2016			2015
	(In thousands)
Current
U.S.	$	91,641		$	67,668		$	73,059
State and local	9,342			4,503			6,188
Foreign	50,775			42,540			30,630
Total current	151,758			114,711			109,877
Deferred
U.S.	(36,390		)	(6,249		)	7,125
State and local	3,305			(331		)	(1,017		)
Foreign	(657		)	(10,728		)	(6,447		)
Total deferred	(33,742		)	(17,308		)	(339		)
Total provision for income taxes	$	118,016		$	97,403		$	109,538

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets (liabilities) at December 31, 2017 and 2016 were:

	2017			2016
	(In thousands)
Employee and retiree benefit plans	$	31,804		$	42,950
Capital loss carryforwards	12,853			18,668
Depreciation and amortization	(176,592		)	(238,321		)
Inventories	8,548			11,519
Allowances and accruals	4,572			9,338
Interest rate exchange agreement	5,007			10,442
Other	(8,019		)	(90		)
Total gross deferred tax (liabilities)	(121,827		)	(145,494		)
Capital loss valuation allowance	(12,853		)	(18,668		)
Total deferred tax (liabilities), net of valuation allowances	$	(134,680	)	$	(164,162	)

Schedule of Deferred Tax Assets (Liabilities) Recognized In Balance Sheets

The deferred tax assets and liabilities recognized in the Company’s Consolidated Balance Sheets as of December 31, 2017 and 2016 were:

	2017			2016
	(In thousands)
Noncurrent deferred tax asset — Other noncurrent assets	$	2,958		$	2,265
Noncurrent deferred tax liabilities — Deferred income taxes	(137,638		)	(166,427		)
Net deferred tax liabilities	$	(134,680	)	$	(164,162	)

Schedule of Effective Income Tax Rate Reconciliation

The provision for income taxes differs from the amount computed by applying the statutory federal income tax rate to pretax income. The computed amount and the differences for 2017, 2016 and 2015 are as follows:

	2017			2016			2015
	(In thousands)
Pretax income	$	455,273		$	368,512		$	392,345
Provision for income taxes
Computed amount at statutory rate of 35%	$	159,346		$	128,979		$	137,321
State and local income tax (net of federal tax benefit)	5,841			4,070			5,033
Taxes on non-U.S. earnings-net of foreign tax credits	(24,914		)	(6,666		)	(11,663		)
Effect of flow-through entities	192			(8,735		)	(8,358		)
U.S. business tax credits	(1,928		)	(1,665		)	(1,273		)
Domestic activities production deduction	(8,516		)	(9,043		)	(6,521		)
Deferred tax effect of foreign tax rate change	—			—			(2,636		)
Capital loss on divestitures	(2,275		)	(23,444		)	—
Share-based payments	(6,844		)	(6,520		)	—
Valuation allowance	(361		)	17,973			—
Impact of Tax Act	(100		)	—			—
Other	(2,425		)	2,454			(2,365		)
Total provision for income taxes	$	118,016		$	97,403		$	109,538

Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits for 2017, 2016 and 2015 is as follows:

	2017			2016			2015
	(In thousands)
Beginning balance January 1	$	3,775		$	7,228		$	3,619
Gross increase due to non-U.S. acquisitions	—			—			3,772
Gross increases for tax positions of prior years	537			201			1,256
Gross decreases for tax positions of prior years	(587		)	(93		)	—
Settlements	(604		)	(2,014		)	(667		)
Lapse of statute of limitations	(399		)	(1,547		)	(752		)
Ending balance December 31	$	2,722		$	3,775		$	7,228