Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Components of the provision for income taxes

The components of the provision for income taxes from continuing operations are as follows:



	Year Ended December 31,
	2014			2013			2012
	(in millions)
Current:
Federal	$	322.7		$	141.8		$	(5.7	)
State	19.4			13.7			7.0
Foreign	18.5			3.1			6.4
Total current	360.6			158.6			7.7
Deferred:
Federal	(4.0		)	44.3			126.6
State	1.2			2.3			3.2
Foreign	(3.0		)	(0.8		)	(3.5		)
Total deferred	(5.8		)	45.8			126.3
Provision	$	354.8		$	204.4		$	134.0

Reconciliation between the statutory U.S. Federal income tax rate and the Company's effective income tax rate from continuing operations

The following is a reconciliation between the statutory U.S. Federal income tax rate and the Company’s effective income tax rate on income from continuing operations:



	Year Ended December 31,
	2014		2013		2012
Statutory rate	35.0	%	35.0	%	35.0	%
State taxes	1.4		2.1		2.0
Domestic production activities deduction	(2.0	)	(1.4	)	—
Noncontrolling interest in partially-owned subsidiaries	(1.1	)	(0.9	)	—
Tax assessments and settlements	—		—		(0.6	)
Changes in valuation allowances and reserves	0.1		(0.8	)	(1.4	)
Other, net	(0.1	)	0.6		(0.3	)
Effective rate	33.3	%	34.6	%	34.7	%

Components of deferred tax liabilities and assets

The components of deferred tax liabilities and assets are as follows:



	December 31,
	2014			2013
	(in millions)
Deferred tax liabilities:
Depreciation, depletion, and amortization	$	627.1		$	668.9
Accrued liabilities and other	97.6			48.3
Convertible debt	114.8			105.4
Total deferred tax liabilities	839.5			822.6
Deferred tax assets:
Workers compensation, pensions, and other benefits	68.6			61.3
Warranties and reserves	12.3			13.8
Equity items	53.3			33.4
Tax loss carryforwards and credits	25.1			27.5
Inventory	29.2			18.8
Total deferred tax assets	188.5			154.8
Net deferred tax liabilities before valuation allowances	651.0			667.8
Valuation allowances	9.6			10.2
Net deferred tax liabilities before reserve for uncertain tax positions	660.6			678.0
Deferred tax assets included in reserve for uncertain tax positions	(45.6		)	(38.6		)
Adjusted net deferred tax liabilities	$	615.0		$	639.4

Change in unrecognized tax benefits

The change in unrecognized tax benefits for the years ended December 31, 2014, 2013, and 2012 was as follows:



	Year Ended December 31,
	2014			2013			2012
	(in millions)
Beginning balance	$	55.0		$	48.7		$	52.5
Additions for tax positions related to the current year	5.0			4.8			4.1
Additions for tax positions of prior years	2.5			2.8			—
Reductions for tax positions of prior years	(0.1		)	—			(1.1		)
Settlements	—			(0.3		)	(3.4		)
Expiration of statute of limitations	(0.1		)	(1.0		)	(3.4		)
Ending balance	$	62.3		$	55.0		$	48.7