Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Taxes

Schedule of components of the provision for income taxes attributable to continuing operations

	Year Ended December 31,
	2016		2015		2014
	(in millions)
Current:
Federal	$	91.1	$	129.5	$	153.2
State		18.9		21.3		25.2
Foreign		10.6		8.8		9.8
		120.6		159.6		188.2
Deferred:
Federal		3.0		(11.7)		(18.7)
State		1.0		(4.5)		(2.2)
Foreign		(4.5)		(0.9)		2.7
		(0.5)		(17.1)		(18.2)
	$	120.1	$	142.5	$	170.0

Components of U.S. and international income before income taxes

	Year Ended December 31,
	2016		2015		2014
	(in millions)
U.S.	$	411.0	$	427.3	$	488.5
International		18.2		31.4		57.8
Income before income taxes	$	429.2	$	458.7	$	546.3

Schedule of reconciliation of income tax at the U.S. federal statutory tax rates to income tax expense

	Year Ended December 31,
	2016		2015		2014
Income tax at U.S. federal statutory tax rate	35.0	%	35.0	%	35.0	%
State income tax, net of federal tax effect	3.1		2.0		2.6
Foreign earnings taxed at lower rates	(0.8)		(0.8)		(1.9)
Net effect of life insurance policies	(4.2)		(3.6)		(2.6)
Net effect of changes in unrecognized tax benefits	(4.3)		0.7		0.2
Domestic production activity deduction	(1.7)		(2.0)		(1.7)
Other, net	0.9		(0.2)		(0.5)
Effective tax rate	28.0	%	31.1	%	31.1	%

Schedule of components of the Company's deferred tax assets and liabilities

	December 31,
	2016		2015
	(in millions)
Deferred tax assets:
Accrued expenses not currently deductible for tax	$	77.6	$	75.0
Inventory costs capitalized for tax purposes		29.2		27.1
Stock-based compensation		12.0		17.1
Allowance for doubtful accounts		5.3		5.5
Tax credits carryforwards		1.3		1.1
Net operating loss carryforwards		4.7		5.4
Total deferred tax assets		130.1		131.2
Deferred tax liabilities:
Property, plant and equipment, net		(238.6)		(245.5)
Goodwill and other intangible assets		(451.2)		(458.2)
LIFO inventories		(54.1)		(34.0)
Deferred income		(7.1)		(13.4)
Other		(6.0)		(7.2)
Total deferred tax liabilities		(757.0)		(758.3)
Net deferred tax liabilities	$	(626.9)	$	(627.1)

Schedule of reconciliation of the beginning and ending balances of the total amounts of unrecognized tax benefits

	Year Ended December 31,
	2016		2015		2014
	(in millions)
Unrecognized tax benefits at January 1	$	22.9	$	20.2	$	19.4
Increases in tax positions for prior years		0.4		0.3		0.3
Decreases in tax positions for prior years		(0.6)		(1.7)		(0.4)
Increases in tax positions for current year		0.1		4.2		3.8
Settlements		(17.6)		(0.1)		(0.1)
Lapses in statutes-of-limitation periods		—		—		(2.8)
Unrecognized tax benefits at December 31	$	5.2	$	22.9	$	20.2