Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Components of Income Tax Expense (Benefit)

Components of current and deferred income tax expense (benefit) are as follows ($000’s omitted):

	2013			2012			2011
Current provision (benefit)
Federal	$	5,725		$	(8,523	)	$	(71,796	)
State and other	(1,596		)	(14,068		)	(28,116		)
	$	4,129		$	(22,591	)	$	(99,912	)
Deferred provision (benefit)
Federal	$	(1,833,580	)	$	—		$	—
State and other	(262,843		)	—			—
	$	(2,096,423	)	$	—		$	—
Income tax expense (benefit)	$	(2,092,294	)	$	(22,591	)	$	(99,912	)

Effective Income Tax Rate Reconciliation

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

	2013		2012		2011
Income taxes at federal statutory rate	35.0	%	35.0	%	35.0	%
Effect of state and local income taxes, net of federal tax	4.0		3.0		3.0
Deferred tax asset valuation allowance	(438.0	)	(37.7	)	(7.0	)
Tax contingencies	0.3		(10.6	)	28.4
Goodwill impairment	—		—		(28.7	)
Other	2.3		(2.0	)	1.5
Effective rate	(396.4	)%	(12.3	)%	32.2	%

Deferred Tax Assets and Liabilities

Components of our net deferred tax asset are as follows ($000’s omitted):

	At December 31,
	2013			2012
Deferred tax assets:
Non-deductible reserves and other	$	475,730		$	486,990
Inventory valuation reserves	770,566			953,266
Net operating loss ("NOL") carryforwards:
Federal	726,398			785,302
State	292,195			320,831
Alternative minimum tax credits	28,683			25,338
Energy credit and charitable contribution carryforward	39,978			38,895
	2,333,550			2,610,622
Deferred tax liabilities:
Capitalized items, including real estate basis differences,       deducted for tax, net	(39,449		)	(84,637		)
Trademarks and tradenames	(50,047		)	(56,714		)
	(89,496		)	(141,351		)
Valuation allowance	(157,300		)	(2,469,271		)
Net deferred tax asset (liability)	$	2,086,754		$	—

Summary of Income Tax Contingencies

A reconciliation of the change in the unrecognized tax benefits is as follows ($000’s omitted):

	2013			2012			2011
Unrecognized tax benefits, beginning of period	$	170,425		$	171,863		$	258,016
Increases related to tax positions taken during a prior period	12,877			8,782			2,699
Decreases related to tax positions taken during a prior period	(7,502		)	(9,373		)	(79,719		)
Increases related to tax positions taken during the current        period	381			11,797			1,620
Decreases related to settlements with taxing authorities	(1,434		)	—			—
Reductions as a result of a lapse of the applicable statute of        limitations	(1,437		)	(12,644		)	(10,753		)
Unrecognized tax benefits, end of period	$	173,310		$	170,425		$	171,863