Income Tax Disclosure [Abstract] | Period [Axis] |
---|
2016-01-01 - 2016-12-31 |
---|
Income Tax Disclosure [Abstract] | |
Schedule of income before income tax | Income (loss) from continuing operations before income taxes for the Company’s U.S. and non-U.S. operations was as follows: | | | | | | | | | | | | | | (In millions) | | 2016 | | 2015 | | 2014 | U.S. | | $ | (782.1 | ) | | $ | (534.6 | ) | | $ | (46.1 | ) | Non-U.S. | | 48.1 |
| | 56.6 |
| | 47.6 |
| Income (loss) from continuing operations before income taxes | | $ | (734.0 | ) | | $ | (478.0 | ) | | $ | 1.5 |
|
|
Schedule income tax provision (benefit) | The income tax provision (benefit) was as follows: | | | | | | | | | | | | | | (In millions) | | 2016 | | 2015 | | 2014 | Continuing operations: | | | | | | | Current: | | | | | | | Federal | | $ | 0.5 |
| | $ | (60.7 | ) | | $ | (47.9 | ) | State | | (1.5 | ) | | (0.4 | ) | | (4.0 | ) | Foreign | | 14.4 |
| | 9.4 |
| | 9.8 |
| Total | | 13.4 |
| | (51.7 | ) | | (42.1 | ) | Deferred: | | | | | | | Federal | | (115.8 | ) | | (90.9 | ) | | 34.1 |
| State | | (3.5 | ) | | 30.4 |
| | (0.2 | ) | Foreign | | (1.0 | ) | | 0.1 |
| | (0.5 | ) | Total | | (120.3 | ) | | (60.4 | ) | | 33.4 |
| Income tax benefit from continuing operations | | $ | (106.9 | ) | | $ | (112.1 | ) | | $ | (8.7 | ) | Income tax benefit from discontinued operations | | $ | — |
| | $ | — |
| | $ | (0.3 | ) | Total company income tax benefit | | $ | (106.9 | ) | | $ | (112.1 | ) | | $ | (9.0 | ) |
|
Schedule of effective income tax rate reconciliation | The following is a reconciliation of income taxes computed at the statutory U.S. Federal income tax rate to the actual effective income tax benefit from continuing operations: | | | | | | | | | | | | | | | | Income Tax Provision (Benefit) | (In millions) | | 2016 | | 2015 | | 2014 | Taxes computed at the federal rate | | $ | (256.9 | ) | | $ | (167.3 | ) | | $ | 0.5 |
| State and local income taxes, net of federal tax benefit | | (26.8 | ) | | (20.6 | ) | | (2.0 | ) | Valuation allowance | | 171.5 |
| | 74.5 |
| | 0.5 |
| Foreign earnings taxed at different rate | | (5.3 | ) | | (11.2 | ) | | (6.6 | ) | Adjustment to prior years’ taxes | | 3.4 |
| | (5.4 | ) | | 0.1 |
| Tax reserve adjustments | | 3.1 |
| | 3.9 |
| | (0.5 | ) | Repatriation of foreign earnings | | 2.1 |
| | 13.4 |
| | 0.3 |
| Other | | 2.0 |
| | 0.6 |
| | (1.0 | ) | Income tax benefit | | $ | (106.9 | ) | | $ | (112.1 | ) | | $ | (8.7 | ) |
|
Schedule of income taxes paid | Income taxes paid and amounts received as refunds were as follows: | | | | | | | | | | | | | | (In millions) | | 2016 | | 2015 | | 2014 | Income taxes paid | | $ | 8.6 |
| | $ | 10.8 |
| | $ | 15.1 |
| Income tax refunds received | | (10.5 | ) | | (63.3 | ) | | (20.2 | ) | Income taxes received, net | | $ | (1.9 | ) | | $ | (52.5 | ) | | $ | (5.1 | ) |
|
Schedule of deferred tax assets and liabilities | The categories of assets and liabilities that have resulted in differences in the timing of the recognition of income and expense at December 31, 2016 and 2015 were as follows: | | | | | | | | | | (In millions) | | 2016 | | 2015 | Deferred income tax assets | | | | | Pensions | | $ | 281.2 |
| | $ | 281.0 |
| Postretirement benefits other than pensions | | 122.9 |
| | 144.7 |
| Federal and state net operating loss tax carryovers | | 400.9 |
| | 228.1 |
| Federal and state tax credits | | 57.2 |
| | 52.2 |
| Deferred compensation and other benefit plans | | 25.7 |
| | 25.9 |
| Self insurance reserves | | 9.7 |
| | 10.8 |
| Other items | | 106.3 |
| | 85.2 |
| Gross deferred income tax assets | | 1,003.9 |
| | 827.9 |
| Valuation allowance for deferred tax assets | | (322.2 | ) | | (105.1 | ) | Total deferred income tax assets | | 681.7 |
| | 722.8 |
| Deferred income tax liabilities | | | | | Bases of property, plant and equipment | | 533.8 |
| | 664.1 |
| Inventory valuation | | 77.8 |
| | 62.2 |
| Bases of amortizable intangible assets | | 23.3 |
| | 25.4 |
| Other items | | 50.4 |
| | 46.7 |
| Total deferred tax liabilities | | 685.3 |
| | 798.4 |
| Net deferred tax liability | | $ | (3.6 | ) | | $ | (75.6 | ) |
|
Schedule of changes in unrecognized income tax benefits | The changes in the liability for unrecognized income tax benefits for the years ended December 31, 2016, 2015 and 2014 were as follows: | | | | | | | | | | | | | | (In millions) | | 2016 | | 2015 | | 2014 | Balance at beginning of year | | $ | 15.0 |
| | $ | 73.4 |
| | $ | 72.8 |
| Increases in prior period tax positions | | 7.9 |
| | 4.2 |
| | 2.0 |
| Decreases in prior period tax positions | | (0.1 | ) | | (0.6 | ) | | (0.6 | ) | Increases in current period tax positions | | 0.7 |
| | 1.3 |
| | 0.7 |
| Expiration of the statute of limitations | | (1.1 | ) | | (0.7 | ) | | (0.5 | ) | Settlements | | (4.3 | ) | | (62.1 | ) | | (0.7 | ) | Interest and penalties, net | | (0.3 | ) | | (0.5 | ) | | (0.3 | ) | Balance at end of year | | $ | 17.8 |
| | $ | 15.0 |
| | $ | 73.4 |
|
|
Summary of income tax examinations | A summary of tax years that remain subject to examination, by major tax jurisdiction, is as follows: | | | | Jurisdiction | | Earliest Year Open to Examination | U.S. Federal | | 2015 | States: | | | California | | 2012 | Ohio | | 2012 | North Carolina | | 2010 | Oregon | | 2013 | Pennsylvania | | 2013 | Foreign: | | | China | | 2013 | Poland | | 2010 | United Kingdom | | 2014 |
|
Summary of Valuation Allowance [Table Text Block] | The Company had $322.2 million and $105.1 million in deferred tax asset valuation allowances at December 31, 2016 and 2015, respectively, which includes the following: | | | | | | | | | | | (In millions) | | 2016 | | 2015 | Federal deferred tax valuation allowances | | | | | | Net operating losses | | $ | 37.8 |
| | $ | — |
| | Tax credits | | 40.5 |
| | 24.8 |
| | Temporary differences | | 141.2 |
| | — |
| | Total federal deferred tax valuation allowances | | 219.5 |
| | 24.8 |
| State deferred tax valuation allowances | | | | | | Net operating losses | | 77.9 |
| | 61.8 |
| | Tax credits | | 13.3 |
| | 13.8 |
| | Temporary differences | | 6.5 |
| | 3.3 |
| | Total state deferred tax valuation allowances | | 97.7 |
| | 78.9 |
| Foreign deferred tax valuation allowances | | 5.0 |
| | 1.4 |
| Total deferred tax valuation allowances | | $ | 322.2 |
| | $ | 105.1 |
|
|