Income taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Provision for taxes on income

The provision for taxes on income for the years ended December 31 consists of the following:

	2022		2021		2020
Pretax income
Domestic	$	363,518	$	(342,951)	$	54,397
Foreign	207,764		181,969		201,195
Total pretax income	$	571,282	$	(160,982)	$	255,592
Current
Federal	$	55,016	$	21,247	$	10,868
State	15,997		15,212		4,608
Foreign	59,762		55,018		42,764
Total current	$	130,775	$	91,477	$	58,240
Deferred
Federal	$	(2,495)	$	(120,243)	$	432
State	(5,441)		(39,709)		512
Foreign	(4,330)		1,045		(6,154)
Total deferred	$	(12,266)	$	(158,907)	$	(5,210)
Total taxes	$	118,509	$	(67,430)	$	53,030

Deferred tax liabilities/(assets)

Deferred tax (liabilities)/assets are comprised of the following at December 31:

	2022		2021
Property, plant and equipment	$	(104,162)	$	(97,806)
Intangibles	(104,171)		(96,057)
Leases	(89,226)		(75,587)
Outside basis in Metal Packaging	(74,092)		—
Gross deferred tax liabilities	$	(371,651)	$	(269,450)
Retiree health benefits	$	1,222	$	2,935
Foreign loss carryforwards	79,460		76,462
U.S. Federal loss and credit carryforwards	36,529		34,700
Capital loss carryforwards	3,626		4,050
U.S. State loss and credit carryforwards	20,961		21,900
Capitalized research and development costs	45,826		22,875
Employee benefits	42,641		46,503
Leases	89,416		78,518
Accrued liabilities and other assets	56,601		30,835
Gross deferred tax assets	$	376,282	$	318,778
Valuation allowance on deferred tax assets	$	(82,046)	$	(93,992)
Total deferred taxes, net	$	(77,415)	$	(44,664)

Reconciliation of U.S. federal statutory tax rate to actual consolidated tax expense

A reconciliation of the U.S. federal statutory tax rate to the actual provision for/(benefit from) income taxes is as follows:

	2022				2021				2020
Statutory tax rate	$	119,945	21.0	%	$	(33,806)	21.0	%	$	53,674	21.0	%
State income taxes, net of federal tax benefit	13,149		2.3	%	(15,863)		9.9	%	4,859		1.9	%
Valuation allowance	(10,477)		(1.8)	%	(33,576)		20.9	%	1,589		0.6	%
Tax examinations including change in reserve for uncertain tax positions	567		0.1	%	5,665		(3.5)	%	5,546		2.2	%
Adjustments to prior year deferred taxes	(2,110)		(0.4)	%	1,239		(0.8)	%	(265)		(0.1)	%
Foreign earnings taxed at other than U.S. rates	12,334		2.2	%	9,659		(6.0)	%	3,275		1.3	%
Divestiture of business	—		—	%	(808)		0.5	%	(15,356)		(6.0)	%
Effect of tax rate changes	(2,151)		(0.4)	%	275		(0.2)	%	(523)		(0.2)	%
Foreign withholding taxes	4,670		0.8	%	8,107		(5.0)	%	2,157		0.8	%
Tax credits	(14,077)		(2.5)	%	(21,936)		13.6	%	(13,529)		(5.3)	%
Global intangible low-taxed income (GILTI)	2,851		0.5	%	11,323		(7.0)	%	15,795		6.2	%
Foreign-derived intangible income	(657)		(0.1)	%	(202)		0.1	%	(1,238)		(0.5)	%
Foreign currency gain/(loss) on distributions of previously taxed income	(1,280)		(0.2)	%	3,365		(2.1)	%	(344)		(0.1)	%
Other, net	(4,255)		(0.7)	%	(872)		0.5	%	(2,610)		(1.0)	%
Provision for/(Benefit from) income taxes	$	118,509	20.7	%	$	(67,430)	41.9	%	$	53,030	20.8	%

Reconciliation of gross amounts of unrecognized tax benefits

The following table sets forth the reconciliation of the gross amounts of unrecognized tax benefits at the beginning and ending of the periods indicated: 

	2022		2021		2020
Gross Unrecognized Tax Benefits at January 1	$	18,142	$	11,230	$	12,200
Increases in prior years’ unrecognized tax benefits	223		12,283		91
Decreases in prior years’ unrecognized tax benefits	(144)		(275)		(464)
Increases in current year's unrecognized tax benefits	1,807		1,088		1,569
Decreases in unrecognized tax benefits from the lapse of statutes of limitations	(1,174)		(6,170)		(1,866)
Settlements	(233)		(14)		(300)
Gross Unrecognized Tax Benefits at December 31	$	18,621	$	18,142	$	11,230