Entity information:
(6)    Income Taxes
On December 22, 2017, the Tax Cuts and Jobs Act of 2017 (Tax Act) was signed into law making significant changes to the Internal Revenue Code. Changes include, among others, a decrease in the federal statutory income tax rate from 35% to 21% beginning in 2018. The impact of the reduction of the federal statutory income tax rate decreased the Company’s income tax expense for 2017 by $224,195,000 due to the remeasurement of deferred income taxes. The Company had no incomplete or provisional amounts in the remeasurement of deferred income taxes.
Total income taxes for 2017, 2016 and 2015 were allocated as follows:
 
 
2017
 
2016
 
2015
 
 
(Amounts are in thousands)
Earnings
 
$
735,612


914,688


904,213

Other comprehensive earnings (losses)
 
64,324


(1,789
)

(52,183
)
 
 
$
799,936

 
912,899

 
852,030


The provision for income taxes consists of the following:
 
 
Current
 
Deferred
 
Total
 
 
(Amounts are in thousands)
2017
 
 
 
 
 
 
Federal
 
$
771,355

 
(113,620
)
 
657,735

State
 
64,113

 
13,764

 
77,877

 
 
$
835,468

 
(99,856
)
 
735,612

2016
 
 
 
 
 
 
Federal
 
$
820,989

 
20,697

 
841,686

State
 
69,342

 
3,660

 
73,002

 
 
$
890,331

 
24,357

 
914,688

2015
 
 
 
 
 
 
Federal
 
$
758,084

 
97,586

 
855,670

State
 
37,555

 
10,988

 
48,543

 
 
$
795,639

 
108,574

 
904,213


A reconciliation of the provision for income taxes at the federal statutory income tax rate of 35% to earnings before income taxes compared to the Company’s actual income tax expense is as follows:
 
 
2017
 
2016
 
2015
 
 
(Amounts are in thousands)
Federal tax at statutory income tax rate
 
$
1,059,627

 
1,029,132

 
1,004,241

State income taxes (net of federal tax benefit)
 
50,621

 
47,451

 
31,553

ESOP dividend
 
(65,111
)
 
(65,232
)
 
(62,630
)
Other, net
 
(85,330
)
 
(96,663
)
 
(68,951
)
Remeasurement of deferred income taxes
 
(224,195
)
 
—

 
—

 
 
$
735,612


914,688


904,213


The tax effects of temporary differences that give rise to significant portions of deferred income taxes as of December 30, 2017 and December 31, 2016 are as follows:
 
 
2017
 
2016
 
 
(Amounts are in thousands)
Deferred tax liabilities and (assets):
 
 
 
 
Property, plant and equipment
 
$
487,026

 
704,233

Investments
 
30,090

 
(34,554
)
Inventories
 
23,784

 
5,275

Self-insurance reserves
 
(77,783
)
 
(119,613
)
Retirement plan contributions
 
(42,547
)
 
(63,432
)
Postretirement benefit cost
 
(30,226
)
 
(41,362
)
Purchase allowances
 
(9,967
)
 
(18,005
)
Lease accounting
 
(8,576
)
 
(15,903
)
Other
 
(10,849
)
 
(20,155
)
 
 
$
360,952

 
396,484


The Company expects the results of future operations and the reversal of deferred tax liabilities to generate sufficient taxable income to allow utilization of deferred tax assets; therefore, no valuation allowance has been recorded as of December 30, 2017 and December 31, 2016.
The Company has analyzed filing positions in all of the federal and state jurisdictions where it is required to file income tax returns as well as all open tax years in these jurisdictions. The periods subject to examination for the Company’s federal income tax returns are the 2014 through 2016 tax years. The periods subject to examination for the Company’s state income tax returns are the 2011 through 2016 tax years. The Company believes that the outcome of any examinations will not have a material effect on its financial condition, results of operations or cash flows.
The Company had no unrecognized tax benefits in 2017 and 2016. As a result, there will be no effect on the Company’s effective income tax rate in future periods due to the recognition of unrecognized tax benefits.