| Income Tax Disclosure [Abstract] | Period [Axis] |
|---|
2016-01-01 - 2016-12-31 |
|---|
Income Tax Disclosure [Abstract] | |
Schedule of income (loss) from continuing operations before income taxes | | | | | | | | | | | | | Years Ended December 31, | (In millions) | 2016 | | 2015 | | 2014 | | | | | | | Income (loss) from continuing operations before income taxes | | | | | | U.S. | $ | (28.3 | ) | | (23.2 | ) | | (79.4 | ) | Foreign | 153.3 |
| | 64.3 |
| | 30.4 |
| Income (loss) from continuing operations before income taxes | $ | 125.0 |
| | 41.1 |
| | (49.0 | ) |
|
Schedule of Components of Income Tax Expense Benefit | | | | | | | | | | | | Provision (benefit) for income taxes from continuing operations | | | | | | Current tax expense (benefit) | | | | | | U.S. federal | $ | (3.3 | ) | | (1.0 | ) | | (3.8 | ) | State | 0.5 |
| | (0.2 | ) | | (0.8 | ) | Foreign | 84.2 |
| | 60.6 |
| | 69.7 |
| Current tax expense | 81.4 |
| | 59.4 |
| | 65.1 |
| | | | | | | Deferred tax expense (benefit) | | | | | | U.S. federal | 0.6 |
| | 7.7 |
| | (7.6 | ) | State | (0.1 | ) | | — |
| | (1.9 | ) | Foreign | (3.4 | ) | | (0.6 | ) | | (18.9 | ) | Deferred tax benefit | (2.9 | ) | | 7.1 |
| | (28.4 | ) | Provision (benefit) for income taxes of continuing operations | $ | 78.5 |
| | 66.5 |
| | 36.7 |
|
|
Comprehensive provision (benefit) for income taxes allocation | | | | | | | | | | | | | Years Ended December 31, | (In millions) | 2016 | | 2015 | | 2014 | | | | | | | Comprehensive provision (benefit) for income taxes allocable to | | | | | | Continuing operations | $ | 78.5 |
| | 66.5 |
| | 36.7 |
| Discontinued operations | (1.1 | ) | | (1.0 | ) | | 0.4 |
| Other comprehensive income (loss) | 0.9 |
| | (0.7 | ) | | (43.0 | ) | Equity | (0.2 | ) | | 1.8 |
| | 0.6 |
| Comprehensive provision (benefit) for income taxes | $ | 78.1 |
| | 66.6 |
| | (5.3 | ) |
|
Schedule of Effective Income Tax Rate Reconciliation | The following table reconciles the difference between the actual tax rate on continuing operations and the statutory U.S. federal income tax rate of 35%. | | | | | | | | | | | Years Ended December 31, | (In percentages) | 2016 | | 2015 | | 2014 | | | | | | | U.S. federal tax rate | 35.0 | % | | 35.0 | % | | 35.0 | % | Increases (reductions) in taxes due to: | | | | | | Venezuela devaluation | 2.9 |
| | 61.3 |
| | (86.3 | ) | Tax on accelerated U.S. income(a) | — |
| | 57.3 |
| | — |
| Adjustments to valuation allowances | 18.2 |
| | 18.9 |
| | (16.9 | ) | Foreign income taxes | 4.2 |
| | (18.2 | ) | | (0.7 | ) | French business tax | 3.0 |
| | 8.9 |
| | (9.0 | ) | Taxes on undistributed earnings of foreign affiliates | 0.7 |
| | (1.2 | ) | | (3.7 | ) | State income taxes, net | (1.0 | ) | | (4.1 | ) | | 5.2 |
| Other | (0.2 | ) | | 3.9 |
| | 1.5 |
| Actual income tax rate on continuing operations | 62.8 | % | | 161.8 | % | | (74.9 | )% |
| | (a) | In the fourth quarter of 2015, we recognized a $23.5 million increase to current tax expense related to a transaction that accelerated U.S. taxable income. |
|
Schedule of Deferred Tax Assets and Liabilities | Components of Deferred Tax Assets and Liabilities | | | | | | | | | December 31, | (In millions) | 2016 | | 2015 | | | | | Deferred tax assets | | | | Pension liabilities | $ | 74.5 |
| | 76.4 |
| Retirement benefits other than pensions | 87.2 |
| | 79.4 |
| Workers’ compensation and other claims | 41.7 |
| | 41.2 |
| Property and equipment, net | 6.6 |
| | 2.5 |
| Other assets and liabilities | 107.3 |
| | 120.6 |
| Net operating loss carryforwards | 42.4 |
| | 37.1 |
| Alternative minimum and other tax credits(a) | 62.0 |
| | 47.5 |
| Subtotal | 421.7 |
| | 404.7 |
| Valuation allowances | (62.8 | ) | | (45.7 | ) | Total deferred tax assets | 358.9 |
| | 359.0 |
| | | | | Deferred tax liabilities | | | | Retirement benefits other than pensions | 2.1 |
| | 1.0 |
| Other assets and miscellaneous | 36.5 |
| | 36.3 |
| Deferred tax liabilities | 38.6 |
| | 37.3 |
| Net deferred tax asset | $ | 320.3 |
| | 321.7 |
| | | | | Included in: | | | | Noncurrent assets | 327.9 |
| | 329.8 |
| Noncurrent liabilities | (7.6 | ) | | (8.1 | ) | Net deferred tax asset | $ | 320.3 |
| | 321.7 |
|
| | (a) | U.S. alternative minimum tax credits of $32.6 million have an unlimited carryforward period, U.S. foreign tax credits of $26.2 million have a 10 year carryforward period and the remaining credits of $3.2 million have various carryforward periods. The U.S. foreign tax credits have a $26.2 million valuation allowance. |
|
Summary of Valuation Allowance | Based on our analysis of positive and negative evidence including historical and expected future taxable earnings, and a consideration of available tax-planning strategies, we believe it is more-likely-than-not that we will realize the benefit of the existing deferred tax assets, net of valuation allowances, at December 31, 2016.
In 2016, we changed our judgment about the need for valuation allowances for certain U.S. tax attributes with a limited statutory carryforward period that are no longer more-likely-than-not to be realized due to lower than expected U.S. operating results, certain pre-tax items, and other timing of tax deductions related to executive leadership transition. As a result, we recognized a $14.7 million valuation allowance in 2016 through income from continuing operations.
| | | | | | | | | | | | Years Ended December 31, | (In millions) | 2016 | | 2015 | | 2014 | | | | | | | Valuation allowances: | | | | | | Beginning of year | $ | 45.7 |
| | 40.1 |
| | 32.4 |
| Expiring tax credits | (0.4 | ) | | (0.3 | ) | | (0.5 | ) | Acquisitions and dispositions | (0.3 | ) | | — |
| | (1.0 | ) | Changes in judgment about deferred tax assets(a) | 2.6 |
| | 1.5 |
| | 1.9 |
| Other changes in deferred tax assets, charged to: | | | | | | Income from continuing operations | 20.5 |
| | 8.4 |
| | 6.3 |
| Income from discontinued operations | — |
| | — |
| | 3.3 |
| Other comprehensive income (loss) | 0.7 |
| | 0.3 |
| | 0.6 |
| Retained earnings(b) | 2.5 |
| | — |
| | — |
| Foreign currency exchange effects | (8.5 | ) | | (4.3 | ) | | (2.9 | ) | End of year | $ | 62.8 |
| | 45.7 |
| | 40.1 |
|
| | (a) | Changes in judgment about valuation allowances are based on a recognition threshold of “more-likely-than-not” of realizing beginning-of-year balances of deferred tax assets. Amounts are recognized in income from continuing operations. |
| | (b) | We recognized $2.5 million in retained earnings as a result of the early adoption of ASU 2016-09. |
|
Net Operating Losses | The tax benefit of net operating loss carryforwards, before valuation allowances, as of December 31, 2016, was $42.4 million, and expires as follows: | | | | | | | | | | | | | | (In millions) | Federal | | State | | Foreign | | Total | | | | | | | | | Years of expiration | | | | | | | | 2016-2020 | $ | — |
| | 0.2 |
| | 3.7 |
| | 3.9 |
| 2021-2025 | — |
| | 0.1 |
| | 11.1 |
| | 11.2 |
| 2026 and thereafter | — |
| | 15.0 |
| | 0.4 |
| | 15.4 |
| No expiration | — |
| | — |
| | 11.9 |
| | 11.9 |
| | $ | — |
| | 15.3 |
| | 27.1 |
| | 42.4 |
|
|
Uncertain Tax Positions | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: | | | | | | | | | | | | Years Ended December 31, | (In millions) | 2016 | | 2015 | | 2014 | | | | | | | Uncertain tax positions: | | | | | | Beginning of year | $ | 6.9 |
| | 7.2 |
| | 10.8 |
| Increases related to prior-year tax positions | 0.6 |
| | — |
| | 0.4 |
| Decreases related to prior-year tax positions | (0.4 | ) | | (0.3 | ) | | — |
| Increases related to current-year tax positions | 1.2 |
| | 1.1 |
| | 1.1 |
| Settlements | (0.8 | ) | | — |
| | — |
| Effect of the expiration of statutes of limitation | (0.8 | ) | | (0.7 | ) | | (1.3 | ) | Decrease related to dispositions | — |
| | — |
| | (1.0 | ) | Foreign currency exchange effects | (0.3 | ) | | (0.4 | ) | | (2.8 | ) | End of year | $ | 6.4 |
| | 6.9 |
| | 7.2 |
|
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