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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2016
Income Tax Disclosure [Abstract]  
Schedule of provision for income taxes
The provision for income taxes consists of the following for the years ended December 31:
(in thousands)
 
 
 
 
2016
 
2015
 
2014
Current income tax expense
 
$
109,727

 
$
106,155

 
$
87,064

Deferred income tax benefit
 
(2
)
 
(14,584
)
 
(3,305
)
Income tax expense
 
$
109,725

 
$
91,571

 
$
83,759

Schedule of reconciliation of the provision for income taxes, with amounts determined by applying the statutory federal income tax rate to pre-tax income
A reconciliation of the provision for income taxes, with amounts determined by applying the statutory federal income tax rate to pre-tax income, is as follows for the years ended December 31:
(in thousands)
 
 
 
 
2016
 
2015
 
2014
Income tax at statutory rate
 
$
112,032

 
$
93,187

 
$
87,943

Tax-exempt interest
 
(2,270
)
 
(2,285
)
 
(2,589
)
Other, net
 
(37
)
 
669

 
(1,595
)
Income tax expense
 
$
109,725

 
$
91,571

 
$
83,759



Schedule of temporary differences and carry-forwards, which give rise to deferred tax assets and liabilities
Temporary differences and carry-forwards, which give rise to deferred tax assets and liabilities, are as follows for the years ended December 31:
(in thousands)
 
 
 
 
2016
 
2015
Deferred tax assets:
 
 
 
 
Other employee benefits
 
$
19,106

 
$
19,945

Pension and other postretirement benefits
 
65,241

 
48,897

Allowance for management fee returned on cancelled policies
 
4,795

 
4,375

Other
 
81

 
546

   Total deferred tax assets
 
89,223

 
73,763

Deferred tax liabilities:
 
 
 
 
Depreciation
 
18,493

 
17,843

Prepaid expenses
 
8,120

 
6,929

Limited partnerships
 
5,597

 
5,822

Unrealized gains on investments
 
1,657

 
1,360

Other
 
1,467

 
1,123

   Total deferred tax liabilities
 
35,334

 
33,077

Net deferred tax asset
 
$
53,889

 
$
40,686