Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Tax

Pretax income for 2018, 2017 and 2016 was taxed in the following jurisdictions:

	2018		2017		2016
	(In thousands)
U.S.	$	357,585	$	302,515	$	265,260
Foreign	171,354		152,758		103,252
Total	$	528,939	$	455,273	$	368,512

Schedule of Components of Income Tax

The provision (benefit) for income taxes for 2018, 2017 and 2016 was as follows:

	2018			2017			2016
	(In thousands)
Current
U.S.	$	67,793		$	91,641		$	67,668
State and local	8,056			9,342			4,503
Foreign	46,862			50,775			42,540
Total current	122,711			151,758			114,711
Deferred
U.S.	(5,471		)	(36,390		)	(6,249		)
State and local	(17		)	3,305			(331		)
Foreign	1,143			(657		)	(10,728		)
Total deferred	(4,345		)	(33,742		)	(17,308		)
Total provision for income taxes	$	118,366		$	118,016		$	97,403

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets (liabilities) at December 31, 2018 and 2017 were:

	2018			2017
	(In thousands)
Employee and retiree benefit plans	$	27,615		$	31,804
Capital loss carryforwards	12,754			12,853
Depreciation and amortization	(168,485		)	(176,592		)
Inventories	5,969			8,548
Allowances and accruals	11,540			4,572
Interest rate exchange agreement	3,543			5,007
Other	(6,388		)	(8,019		)
Total gross deferred tax (liabilities)	(113,452		)	(121,827		)
Capital loss valuation allowance	(12,754		)	(12,853		)
Total deferred tax (liabilities), net of valuation allowances	$	(126,206	)	$	(134,680	)

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, 2018 and 2017 were:

	2018			2017
	(In thousands)
Noncurrent deferred tax asset - Other noncurrent assets	$	1,801		$	2,958
Noncurrent deferred tax liabilities - Deferred income taxes	(128,007		)	(137,638		)
Net deferred tax liabilities	$	(126,206	)	$	(134,680	)

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 2018, 2017 and 2016 are as follows:

	2018			2017			2016
	(In thousands)
Pretax income	$	528,939		$	455,273		$	368,512
Provision for income taxes:
Computed amount at statutory rate	$	111,077		$	159,346		$	128,979
State and local income tax (net of federal tax benefit)	8,280			5,841			4,070
Taxes on non-U.S. earnings-net of foreign tax credits	5,725			(24,914		)	(6,666		)
Global Intangible Lowed-Taxed Income	2,725			—			—
Foreign-Derived Intangible Income Deduction	(5,410		)	—			—
Effect of flow-through entities	1,215			192			(8,735		)
U.S. business tax credits	(3,056		)	(1,928		)	(1,665		)
Domestic activities production deduction	—			(8,516		)	(9,043		)
Capital loss on divestitures	—			(2,275		)	(23,444		)
Share-based payments	(9,348		)	(6,844		)	(6,520		)
Valuation allowance	—			(361		)	17,973
Impact of Tax Act	10,298			(100		)	—
Other	(3,140		)	(2,425		)	2,454
Total provision for income taxes	$	118,366		$	118,016		$	97,403

Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits for 2018, 2017 and 2016 is as follows:

	2018			2017			2016
	(In thousands)
Beginning balance January 1	$	2,722		$	3,775		$	7,228
Gross increases for tax positions of prior years	2,308			537			201
Gross decreases for tax positions of prior years	(229		)	(587		)	(93		)
Settlements	(160		)	(604		)	(2,014		)
Lapse of statute of limitations	(571		)	(399		)	(1,547		)
Ending balance December 31	$	4,070		$	2,722		$	3,775