INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Income Before Income Taxes by Jurisdiction

Income before income taxes by jurisdiction is as follows:

	2017		2016		2015
	(In thousands)
U.S.	$	773,160	$	532,853	$	920,250
Foreign	208,906		191,183		81,074
Total	$	982,066	$	724,036	$	1,001,324

Components of Income Tax Expense (Benefit)

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

	2017			2016			2015
	(In thousands)
Current:
Federal	$	213,146		$	165,989		$	248,821
Foreign	65,100			62,753			43,640
State and other	35,614			20,211			26,019
Total current	313,860			248,953			318,480
Deferred:
Federal	(19,434		)	(3,529		)	32,819
Foreign	(34,264		)	(2,490		)	(19,695		)
State and other	3,737			985			6,748
Total deferred	(49,961		)	(5,034		)	19,872
	$	263,899		$	243,919		$	338,352

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:

	2017			2016			2015
Federal income tax rate	35.0		%	35.0		%	35.0		%
State tax rate, net	2.6			2.4			2.3
Domestic production activity	(1.6	)		(1.3	)		(1.9	)
Difference in U.S. statutory tax rate and foreign     country effective tax rate	(1.4	)		(1.4	)		(0.9	)
Rate change	(5.3	)		—			—
Tax credits	(0.5	)		(0.6	)		(0.7	)
Change in reserve for unrecognized tax     benefits	(0.7	)		(0.2	)		(0.1	)
Change in valuation allowance	(1.2	)		(0.1	)		—
Other	—			0.8			1.2
Total	26.9		%	34.6		%	34.9		%

Schedule of Deferred Tax Assets and Liabilities

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

	December 31, 2017			December 25, 2016
	(In thousands)
Deferred tax liabilities:
PP&E and identified intangible assets	$	213,500		$	242,991
Inventories	57,641			93,114
Insurance claims and losses	29,253			42,186
Business combinations	50,695			47,260
Other	18,519			7,938
Total deferred tax liabilities	369,608			433,489
Deferred tax assets:
Net operating losses	3,276			3,396
Foreign net operating losses	26,934			32,825
Credit carry forwards	2,425			2,080
Allowance for doubtful accounts	1,767			4,274
Accrued liabilities	50,389			57,567
Workers compensation	26,119			38,834
Pension and other postretirement benefits	13,379			21,903
Other	51,306			46,414
Total deferred tax assets	175,595			207,293
Valuation allowance	(14,479		)	(25,611		)
Net deferred tax assets	161,116			181,682
Net deferred tax liabilities	$	208,492		$	251,807

Schedule of Unrecognized Tax Benefits

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

	December 31, 2017			December 25, 2016
	(In thousands)
Unrecognized tax benefits, beginning of year	$	16,813		$	17,110
Increase as a result of tax positions taken during the current year	1,163			1,031
Increase as a result of tax positions taken during prior years	60			16
Decrease as a result of tax positions taken during prior years	(892		)	(140		)
Decrease for lapse in statute of limitations	(4,123		)	(1,204		)
Decrease relating to settlements with taxing authorities	(1,155		)	—
Unrecognized tax benefits, end of year	$	11,866		$	16,813