Retirement Plans

12 Months Ended

Dec. 31, 2013

Retirement Plans

Retirement Plans

Note 10. Retirement Plans

        The company sponsors several 401(k) retirement savings and profit sharing plans (Plans) for eligible employees, which are considered "qualified plans" for federal income tax purposes. The company's total expense for the Plans was $25.2 million, $22.9 million, and $37.2 million for the years ended December 31, 2013, 2012, and 2011, respectively. In 2013, the company's profit sharing component is 8% of consolidated pretax income excluding noncontrolling interest and other items. Previously, the company's profit sharing component consisted of 2% of consolidated pretax earnings plus a unique percentage of each of the company's operating segments' pretax earnings after allocation of certain corporate expenses. The resulting company profit sharing component was $23.1 million, $20.5 million, and $35.1 million for the years ended December 31, 2013, 2012, and 2011, respectively; of which $18.5 million, $14.3 million, and $17.5 million, respectively, was directed by the company's board of directors to be contributed to the Plans, with the remaining amounts each year paid directly to the Plans' participants.