XML 51 R37.htm IDEA: XBRL DOCUMENT v3.10.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2018
Income Tax Disclosure [Abstract]  
Schedule of components of the provision for income taxes The components of the provision for income taxes for the years ended December 31 follow:
 
2018
 
2017
 
2016
Current:
 
 
 
 
 
Federal
$
128.9

 
$
358.3

 
$
299.5

State
46.9

 
48.4

 
34.6

Deferred:
 
 
 
 
 
Federal
121.5

 
(388.1
)
 
44.9

State
30.6

 
9.1

 
2.3

State deferred benefit - change in valuation allowance
(4.5
)
 
9.6

 
(1.4
)
Uncertain tax positions and interest, and other
(40.1
)
 
(34.2
)
 
(27.2
)
Provision for income taxes
$
283.3

 
$
3.1

 
$
352.7
Schedule of reconciliations of the statutory federal income tax rate to our effective tax rate The reconciliations of the statutory federal income tax rate to our effective tax rate for the years ended December 31 follow:
 
2018
 
2017
 
2016
Federal statutory rate
21.0
 %
 
35.0
 %
 
35.0
 %
State income taxes, net of federal benefit
4.5

 
3.0

 
3.1

Change in valuation allowance
(0.3
)
 
(0.2
)
 
(0.1
)
Non-deductible expenses
1.9

 
1.8

 
0.9

Uncertain tax position taxes and interest
(0.5
)
 
—

 
(0.1
)
Investment tax credits
(3.8
)
 
(1.0
)
 
(1.1
)
Change in U.S. Tax Law
—

 
(36.2
)
 
—

Other, net
(1.3
)
 
(2.2
)
 
(1.2
)
Effective income tax rate
21.5
 %
 
0.2
 %
 
36.5
 %
Schedule of components of the net deferred income tax asset and liability The components of the net deferred income tax asset and liability as of December 31 follow:
 
2018
 
2017
Deferred tax liabilities relating to:
 
 
 
Differences between book and tax basis of property and equipment
$
(799.9
)
 
$
(715.3
)
Difference between book and tax basis of intangible assets
(453.3
)
 
(446.9
)
Basis difference due to redemption of partnership interests
(88.8
)
 
(89.0
)
Total liabilities
$
(1,342.0
)
 
$
(1,251.2
)
Deferred tax assets relating to:
 
 
 
Environmental reserves
$
253.2

 
$
272.5

Accruals not currently deductible
78.9

 
106.2

Net operating loss carryforwards
134.3

 
143.3

Difference between book and tax basis of other assets
13.7

 
27.3

Other
12.9

 
14.4

Total assets
493.0

 
563.7

Valuation allowance
(73.5
)
 
(72.4
)
Net deferred tax asset
419.5

 
491.3

Net deferred tax liabilities
$
(922.5
)
 
$
(759.9
)
Schedule of changes in the deferred tax valuation allowance Changes in the deferred tax valuation allowance for the years ended December 31 follow:
 
2018
 
2017
 
2016
Valuation allowance, beginning of year
$
72.4

 
$
62.3

 
$
63.7

Additions charged to provision for income taxes
0.9

 
12.9

 
0.3

Deferred tax assets realized or written-off
(5.9
)
 
(2.8
)
 
(1.4
)
Current year acquisitions
6.1

 
—

 
—

Other, net
—

 
—

 
(0.3
)
Valuation allowance, end of year
$
73.5

 
$
72.4

 
$
62.3
Schedule of activity in our gross unrecognized tax benefits The following table summarizes the activity in our gross unrecognized tax benefits for the years ended December 31: 
 
2018
 
2017
 
2016
Balance at beginning of year
$
39.3

 
$
46.1

 
$
47.0

Additions based on tax positions related to current year
—

 
—

 
—

Additions for tax positions of prior years
75.0

 
1.7

 
0.1

Reductions for tax positions of prior years
(2.3
)
 
(8.0
)
 
(0.7
)
Reductions for tax positions resulting from lapse of statute of limitations
(5.1
)
 
(0.5
)
 
(0.3
)
Settlements
(2.0
)
 
—

 
—

Balance at end of year
$
104.9

 
$
39.3

 
$
46.1