Taxes on Income (Tables)

12 Months Ended

Dec. 31, 2019

Taxes on Income [Abstract]

Earnings Before Taxes

Earnings before taxes on income and details of the provision for taxes on income for the years ended December 31, 2019, 2018 and 2017 were as follows (in thousands):

	2019			2018			2017
Earnings (loss) before taxes on income:
United States	$	190,839		$	117,800		$	74,267
Foreign		(1,019	)		(3,641	)		(1,253	)
	$	189,820		$	114,159		$	73,014
Provision (benefit) for taxes on income:
U.S. Federal:
Current	$	(312	)	$	—		$	11,143
Deferred		45,133			27,102			(258,703	)
	$	44,821		$	27,102		$	(247,560	)
U.S. State:
Current	$	76		$	(243	)	$	3,861
Deferred		1,706			7,619			2,280
	$	1,782		$	7,376		$	6,141
Foreign:
Current	$	198		$	443		$	370
Deferred		—			160			160
	$	198		$	603		$	530
Consolidated:
Current	$	(38	)	$	200		$	15,374
Deferred		46,839			34,881			(256,263	)
	$	46,801		$	35,081		$	(240,889	)

Effective Income Tax Rate Reconciliation

The Company’s provision for taxes on income varied from the statutory federal income tax rate for the years ended December 31, 2019, 2018 and 2017 due to the following:

	2019			2018			2017
United States income tax statutory rate		21.0	%		21.0	%		35.0	%
State and local taxes, net of federal benefit		0.7			6.5			0.9
Change due to U.S. tax reform		—			—			(369.0	)
Other – net		3.0			3.2			3.2
		24.7	%		30.7	%		(329.9	)%

Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the non-current deferred tax assets and liabilities at December 31, 2019 and 2018 were as follows (in thousands):

	2019			2018
Non-current deferred tax assets and liabilities:
Deferred tax assets:
Allowance for doubtful accounts	$	1,758		$	2,105
Inventory		13,401			5,017
Insurance accruals		4,397			4,119
Deferred compensation		1,109			1,291
Unrealized loss on defined benefit plans		10,253			9,891
Operating loss carryforwards		143,181			81,867
Pension benefits		6,825			6,559
Other		7,392			22,421
		188,316			133,270
Valuation allowances		(20,525	)		(25,568	)
		167,791			107,702
Deferred tax liabilities:
Property		(620,891	)		(526,873	)
Deferred state taxes		(63,640	)		(74,638	)
Goodwill and other intangibles		(54,844	)		(34,235	)
Other		(16,620	)		(14,741	)
		(755,995	)		(650,487	)
	$	(588,204	)	$	(542,785	)

Reconciliation of Liability for Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of the liability for unrecognized tax benefits for the years ended December 31, 2019, 2018 and 2017, is as follows (in thousands):

	2019			2018			2017
Balance at beginning of year	$	1,443		$	1,787		$	2,019
Additions based on tax positions related to the current year		51			254			403
Additions for tax positions of prior years		58			70			273
Reductions for tax positions of prior years		(669	)		(668	)		(908	)
Balance at end of year	$	883		$	1,443		$	1,787