| Income Tax Disclosure [Abstract] | Period [Axis] |
|---|
2016-01-01 - 2016-12-31 |
|---|
Income Tax Disclosure [Abstract] | |
Earnings Before Income Taxes and Income Tax Expense | Earnings before income taxes and income tax expense consist of: | | | | | | | | | | | | | | Years Ended December 31, | | 2016 | | 2015 | | 2014 | | (in thousands) | Earnings before income taxes: | | | | | | United States | $ | 614,261 |
| | $ | 520,282 |
| | $ | 493,311 |
| Foreign | 108,904 |
| | 110,817 |
| | 115,310 |
| Total | $ | 723,165 |
| | $ | 631,099 |
| | $ | 608,621 |
| Income tax expense: | | | | | | Partnership UBT | $ | 5,363 |
| | $ | 8,027 |
| | $ | 10,042 |
| Corporate subsidiaries: | | | | | | Federal | 291 |
| | 7,957 |
| | 12,464 |
| State and local | 1,064 |
| | 661 |
| | 1,372 |
| Foreign | 28,158 |
| | 26,822 |
| | 31,273 |
| Current tax expense | 34,876 |
| | 43,467 |
| | 55,151 |
| Deferred tax (benefit) | (6,557 | ) | | 1,330 |
| | (10,847 | ) | Income tax expense | $ | 28,319 |
| | $ | 44,797 |
| | $ | 44,304 |
|
|
Difference Between the Effective Tax Rates and UBT Statutory Tax Rate | The principal reasons for the difference between the effective tax rates and the UBT statutory tax rate of 4.0% are as follows: | | | | | | | | | | | | | | | | | | | | | | | Years Ended December 31, | | 2016 | | 2015 | | 2014 | | (in thousands) | UBT statutory rate | $ | 28,927 |
| | 4.0 | % | | $ | 25,244 |
| | 4.0 | % | | $ | 24,345 |
| | 4.0 | % | Corporate subsidiaries’ federal, state, local and foreign income taxes | 17,907 |
| | 2.5 |
| | 31,223 |
| | 4.9 |
| | 30,353 |
| | 5.0 |
| Effect of ASC 740 adjustments, miscellaneous taxes, and other | (1,070 | ) | | (0.2 | ) | | 2,965 |
| | 0.5 |
| | 3,393 |
| | 0.6 |
| Income not taxable resulting from use of UBT business apportionment factors | (17,445 | ) | | (2.4 | ) | | (14,635 | ) | | (2.3 | ) | | (13,787 | ) | | (2.3 | ) | Income tax expense and effective tax rate | $ | 28,319 |
| | 3.9 |
| | $ | 44,797 |
| | 7.1 |
| | $ | 44,304 |
| | 7.3 |
|
|
Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: | | | | | | | | | | | | | | Years Ended December 31, | | 2016 | | 2015 | | 2014 | | (in thousands) | Balance as of beginning of period | $ | 12,004 |
| | $ | 11,311 |
| | $ | 2,975 |
| Additions for prior year tax positions | — |
| | — |
| | 2,838 |
| Reductions for prior year tax positions | — |
| | — |
| | — |
| Additions for current year tax positions | 592 |
| | 693 |
| | 5,498 |
| Reductions for current year tax positions | — |
| | — |
| | — |
| Reductions related to closed years/settlements with tax authorities | — |
| | — |
| | — |
| Balance as of end of period | $ | 12,596 |
| | $ | 12,004 |
| | $ | 11,311 |
|
|
Tax Effect of Significant Items Comprising the Net Deferred Tax Asset (Liability) | The tax effect of significant items comprising the net deferred tax asset (liability) is as follows: | | | | | | | | | | December 31, | | 2016 | | 2015 | | (in thousands) | Deferred tax asset: | | | | Differences between book and tax basis: | | | | Benefits from net operating loss carryforwards | $ | 6,066 |
| | $ | 18,887 |
| Long-term incentive compensation plans | 15,468 |
| | 17,092 |
| Other, primarily accrued expenses deductible when paid | 16,730 |
| | 18,490 |
| | 38,264 |
| | 54,469 |
| Less: valuation allowance | (462 | ) | | (13,709 | ) | Deferred tax asset | 37,802 |
| | 40,760 |
| Deferred tax liability: | |
| | |
| Differences between book and tax basis: | |
| | |
| Intangible assets | 6,302 |
| | 6,520 |
| Translation adjustment | — |
| | 8,220 |
| Other | 1,960 |
| | 766 |
| Deferred tax liability | 8,262 |
| | 15,506 |
| Net deferred tax asset | $ | 29,540 |
| | $ | 25,254 |
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