INCOME TAXES (Tables)

12 Months Ended

Dec. 25, 2016

Income Tax Disclosure [Abstract]

Income Before Income Taxes by Jurisdiction

Income before income taxes by jurisdiction is as follows:

	2016		2015		2014
	(In thousands)
U.S.	$	532,853	$	920,250	$	953,027
Foreign	139,782		72,508		149,364
Total	$	672,635	$	992,758	$	1,102,391

Components of Income Tax Expense (Benefit)

The components of income tax expense (benefit) are set forth below:

	2016			2015			2014
	(In thousands)
Current:
Federal	$	165,989		$	248,821		$	262,403
Foreign	50,130			43,638			22,867
State and other	20,211			26,019			24,056
Total current	236,330			318,478			309,326
Deferred:
Federal	(3,529		)	32,819			29,737
Foreign	(880		)	(11,249		)	31,332
State and other	985			6,748			20,558
Total deferred	(3,424		)	28,318			81,627
	$	232,906		$	346,796		$	390,953

Schedule of Income Tax Reconciliation

The following table reconciles the statutory U.S. federal income tax rate to the Company’s effective income tax rate:

	2016			2015			2014
Federal income tax rate	35.0		%	35.0		%	35.0		%
State tax rate, net	2.4			2.3			2.6
Permanent items	(0.3	)		0.1			0.4
Domestic production activity	(1.3	)		(1.9	)		(2.4	)
Difference in U.S. statutory tax rate and foreign     country effective tax rate	(1.4	)		(0.9	)		(1.0	)
Tax credits	(0.6	)		(0.7	)		—
Other	0.8			1.0			0.9
Total	34.6		%	34.9		%	35.5		%

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax liabilities and assets are as follows:

	December 25, 2016			December 27, 2015
	(In thousands)
Deferred tax liabilities:
PP&E and identified intangible assets	$	182,433		$	151,761
Inventories	93,114			97,743
Insurance claims and losses	42,186			39,800
Other	6,252			15,054
Total deferred tax liabilities	323,985			304,358
Deferred tax assets:
Net operating losses	3,396			4,297
Foreign net operating losses	13,446			16,595
Credit carry forwards	2,080			2,638
Allowance for doubtful accounts	4,274			4,382
Accrued liabilities	57,567			56,753
Workers compensation	38,834			41,217
Pension and other postretirement benefits	21,903			22,559
Other	46,066			31,956
Total deferred tax assets	187,566			180,397
Valuation allowance	(6,232		)	(7,921		)
Net deferred tax assets	181,334			172,476
Net deferred tax liabilities	$	142,651		$	131,882

Schedule of Unrecognized Tax Benefits

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

	December 25, 2016			December 27, 2015
	(In thousands)
Unrecognized tax benefits, beginning of year	$	17,110		$	17,396
Increase as a result of tax positions taken during the current year	1,031			1,015
Increase as a result of tax positions taken during prior years	16			27
Decrease as a result of tax positions taken during prior years	(140		)	(139		)
Decrease for lapse in statute of limitations	(1,204		)	(1,189		)
Unrecognized tax benefits, end of year	$	16,813		$	17,110