Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.8.0.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2017
Income Tax Disclosure [Abstract]  
Components Of The Provision For Income Taxes
The components of the provision for income taxes are as follows:
 
 
Year Ended December 31,
(In thousands)
 
2017
 
2016
 
2015
Current:
 
 
 
 
 
 
Federal
 
$
169,053

 
$
126,903

 
$
120,437

State
 
25,644

 
20,111

 
21,248

 
 
194,697

 
147,014

 
141,685

Deferred:
 
 
 
 
 
 
Federal
 
(81,551
)
 
29,354

 
38,549

State
 
(1,088
)
 
5,454

 
5,093

 
 
(82,639
)
 
34,808

 
43,642

Total provision for income taxes
 
$
112,058

 
$
181,822

 
$
185,327

Schedule Of Effective Income Tax Reconciliation Of The U.S. Statutory Federal Income Tax Rates

The following is a reconciliation of income tax expense calculated using the U.S. statutory federal income tax rate with our income tax expense for 2017, 2016 and 2015:
 
 
Year Ended December 31,
(In thousands)
 
2017
 
2016
 
2015
Tax provision at statutory rate
 
$
201,541

 
$
167,156

 
$
171,506

State income taxes, net of federal benefit
 
20,277

 
16,711

 
17,097

Revaluation of deferred taxes in connection with the Tax Act
 
(104,864
)
 

 

Other, net
 
(4,896
)
 
(2,045
)
 
(3,276
)
Total provision for income taxes
 
$
112,058

 
$
181,822

 
$
185,327

Schedule Of Deferred Tax Assets And Liabilities
Deferred tax assets and liabilities, which are included in "Other assets" and "Deferred income taxes" on our Balance Sheets, consist of the following:
 
 
December 31,
(In thousands)
 
2017
 
2016
Deferred tax assets:
 
 
 
 
Claims and insurance reserves
 
$
29,008

 
$
43,409

Accrued vacation
 
17,832

 
24,227

Deferred compensation
 
29,220

 
40,742

Other
 
15,157

 
11,593

Total deferred tax assets
 
91,217

 
119,971

 
 
 
 
 
Deferred tax liabilities:
 
 
 
 
Depreciation and amortization
 
(266,730
)
 
(376,034
)
Unrecognized revenue
 
(10,007
)
 
(11,465
)
Other
 
(1,703
)
 
(2,334
)
Total deferred tax liabilities
 
(278,440
)
 
(389,833
)
Net deferred tax liability
 
$
(187,223
)
 
$
(269,862
)