INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) Before Income Taxes

The components of income before income taxes were as follows:

For the years ended December 31,	2020		2019		2018
Domestic	$	1,405,254	$	1,211,051	$	1,195,645
Foreign	89,743		169,733		214,416
Income before income taxes	$	1,494,997	$	1,380,784	$	1,410,061

Schedule of Components of Income Tax Expense (Benefit)

The components of our provision for income taxes were as follows:

For the years ended December 31,	2020		2019		2018
Current:
Federal	$	117,348	$	179,358	$	151,107
State	46,198		38,232		38,243
Foreign	29,158		31,514		13,405
	192,704		249,104		202,755
Deferred:
Federal	24,486		14,958		35,035
State	3,746		1,865		7,572
Foreign	(1,352)		(31,895)		(6,352)
	26,880		(15,072)		36,255
Total provision for income taxes	$	219,584	$	234,032	$	239,010

Schedule of Deferred Tax Asset and Liabilities

The significant temporary differences that comprised the deferred tax assets and liabilities are as follows:

December 31,	2020		2019
Deferred tax assets:
Post-retirement benefit obligations	$	58,059	$	56,384
Accrued expenses and other reserves	86,412		88,590
Stock-based compensation	18,831		19,304
Derivative instruments	15,550		16,864
Pension	8,203		3,952
Lease liabilities	64,192		64,988
Accrued trade promotion reserves	25,877		21,709
Net operating loss carryforwards	154,445		160,584
Capital loss carryforwards	15,401		26,022
Other	10,027		9,685
Gross deferred tax assets	456,997		468,082
Valuation allowance	(193,310)		(206,743)
Total deferred tax assets	263,687		261,339
Deferred tax liabilities:
Property, plant and equipment, net	180,633		161,449
Acquired intangibles	156,439		144,314
Lease ROU assets	46,778		48,419
Inventories	21,086		29,158
Other	58,410		46,984
Total deferred tax liabilities	463,346		430,324
Net deferred tax liabilities	$	(199,659)	$	(168,985)
Included in:
Non-current deferred tax assets, net	$	29,369	$	31,033
Non-current deferred tax liabilities, net	(229,028)		(200,018)
Net deferred tax liabilities	$	(199,659)	$	(168,985)

Schedule of Effective Income Tax Rate Reconciliation

The following table reconciles the federal statutory income tax rate with our effective income tax rate:

For the years ended December 31,	2020		2019		2018
Federal statutory income tax rate	21.0	%	21.0	%	21.0	%
Increase (reduction) resulting from:
State income taxes, net of Federal income tax benefits	2.7		1.8		2.7
Business realignment and impairment charges	—		—		0.6
Foreign rate differences	(0.5)		(1.5)		(2.0)
Historic and solar tax credits	(7.7)		(3.4)		(3.5)
U.S. tax reform	—		—		(1.4)
Tax contingencies	0.1		0.9		0.5
Stock compensation	(0.6)		(1.3)		(0.3)
Valuation allowance release	—		(1.5)		—
Other, net	(0.3)		0.9		(0.6)
Effective income tax rate	14.7	%	16.9	%	17.0	%

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

December 31,	2020		2019
Balance at beginning of year	$	108,383	$	97,530
Additions for tax positions taken during prior years	10,641		9,327
Reductions for tax positions taken during prior years	(2,496)		(2,080)
Additions for tax positions taken during the current year	3,354		10,472
Settlements	—		(1,151)
Expiration of statutes of limitations	(11,339)		(5,715)
Balance at end of year	$	108,543	$	108,383