Rendering
| Component: (Network and Table) |
|---|
| Network | 1035 - Disclosure - Income Taxes (Tables) (http://www.autoliv.com/taxonomy/role/NotesToFinancialStatementsIncomeTaxDisclosureTextBlockTables) |
| Table | (Implied) |
Slicers (applies to each fact value in each table cell)
| Reporting Entity [Axis] | 0001034670 (http://www.sec.gov/CIK) |
| Income Tax Disclosure [Abstract] | Period [Axis] |
|---|
2016-01-01 - 2016-12-31 |
|---|
Income Tax Disclosure [Abstract] | |
Schedule of Effective Income Tax Rate |
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INCOME BEFORE INCOME TAXES
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
U.S.
|
|
$ |
132.4 |
|
|
$ |
143.8 |
|
|
$ |
59.5 |
|
|
Non-U.S.
|
|
|
671.4 |
|
|
|
531.9 |
|
|
|
607.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
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Total
|
|
$ |
803.8 |
|
|
$ |
675.7 |
|
|
$ |
667.0 |
|
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|
Schedule of Provision for Income Taxes |
|
PROVISION FOR INCOME TAXES
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
Current
|
|
|
|
|
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|
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U.S. federal
|
|
$ |
53.9 |
|
|
$ |
68.9 |
|
|
$ |
32.2 |
|
|
Non-U.S.
|
|
|
209.1 |
|
|
|
169.2 |
|
|
|
166.2 |
|
|
U.S. state and local
|
|
|
3.5 |
|
|
|
4.2 |
|
|
|
0.4 |
|
|
Deferred
|
|
|
|
|
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|
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|
U.S. federal
|
|
|
(8.3 |
) |
|
|
(9.3 |
) |
|
|
(3.2 |
) |
|
Non-U.S.
|
|
|
(15.6 |
) |
|
|
(13.7 |
) |
|
|
2.9 |
|
|
U.S. state and local
|
|
|
(0.4 |
) |
|
|
(1.1 |
) |
|
|
(0.5 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
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|
Total income tax expense
|
|
$ |
242.2 |
|
|
$ |
218.2 |
|
|
$ |
198.0 |
|
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|
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Schedule of Effective Income Tax Rate |
|
EFFECTIVE INCOME TAX RATE
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
U.S. federal income tax rate
|
|
|
35.0 |
% |
|
|
35.0 |
% |
|
|
35.0 |
% |
|
Foreign tax rate variances
|
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|
(7.7 |
) |
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(8.1 |
) |
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(8.5 |
) |
|
Tax credits
|
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|
(3.7 |
) |
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|
(4.3 |
) |
|
|
(4.9 |
) |
|
Change in Valuation Allowances
|
|
|
1.3 |
|
|
|
0.1 |
|
|
|
0.6 |
|
|
Current year losses with no benefit
|
|
|
2.1 |
|
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|
4.1 |
|
|
|
5.9 |
|
|
Net operating loss carry-forwards
|
|
|
(2.3 |
) |
|
|
(0.5 |
) |
|
|
(0.0 |
) |
|
Changes in tax reserves
|
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|
0.5 |
|
|
|
1.4 |
|
|
|
(0.1 |
) |
|
U.S. Expense Allocation
|
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|
2.0 |
|
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|
2.7 |
|
|
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2.1 |
|
|
Earnings of equity investments
|
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|
(0.1 |
) |
|
|
(0.2 |
) |
|
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(0.4 |
) |
|
Withholding taxes
|
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|
2.8 |
|
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|
1.2 |
|
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|
0.6 |
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|
State taxes, net of federal benefit
|
|
|
0.2 |
|
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0.3 |
|
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|
0.0 |
|
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Other, net
|
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|
(0.0 |
) |
|
|
0.6 |
|
|
|
(0.6 |
) |
|
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|
Effective income tax rate
|
|
|
30.1 |
% |
|
|
32.3 |
% |
|
|
29.7 |
% |
|
Schedule of Unrecognized Tax Benefits |
The following table summarizes the activity related
to the Company’s unrecognized tax benefits:
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|
UNRECOGNIZED TAX BENEFITS
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
Unrecognized tax benefits at beginning of year
|
|
$ |
25.2 |
|
|
$ |
21.5 |
|
|
$ |
22.7 |
|
|
Increases as a result of tax positions taken during a prior
period
|
|
|
4.5 |
|
|
|
2.5 |
|
|
|
0.6 |
|
|
Decreases as a result of tax positions taken during a prior
period
|
|
|
(0.2 |
) |
|
|
(0.1 |
) |
|
|
(0.0 |
) |
|
Increases as a result of tax positions taken during the current
period
|
|
|
5.8 |
|
|
|
5.7 |
|
|
|
3.1 |
|
|
Decreases as a result of tax positions taken during the current
period
|
|
|
(1.7 |
) |
|
|
0.0 |
|
|
|
0.0 |
|
|
Decreases relating to settlements with taxing authorities
|
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|
(1.3 |
) |
|
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(0.7 |
) |
|
|
(2.4 |
) |
|
Decreases resulting from the lapse of the applicable statute of
limitations
|
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|
(3.5 |
) |
|
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(2.0 |
) |
|
|
(1.2 |
) |
|
Translation Difference
|
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|
(1.6 |
) |
|
|
(1.7 |
) |
|
|
(1.3 |
) |
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|
Total unrecognized tax benefits at end of year
|
|
$ |
27.2 |
|
|
$ |
25.2 |
|
|
$ |
21.5 |
|
|
|
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|
Schedule of Deferred Taxes |
|
The tax effect of temporary differences and
carryforwards that comprise significant portions of deferred tax
assets and liabilities were as follows.
|
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|
DEFERRED TAXES DECEMBER 31
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
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|
Provisions
|
|
$ |
110.8 |
|
|
$ |
90.6 |
|
|
$ |
90.6 |
|
|
Costs capitalized for tax
|
|
|
19.1 |
|
|
|
21.3 |
|
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|
12.0 |
|
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Property, plant and equipment
|
|
|
14.8 |
|
|
|
15.5 |
|
|
|
18.9 |
|
|
Retirement Plans
|
|
|
66.8 |
|
|
|
60.8 |
|
|
|
73.6 |
|
|
Tax receivables, principally NOL’s
|
|
|
221.1 |
|
|
|
192.8 |
|
|
|
166.2 |
|
|
Deferred tax assets before allowances
|
|
$ |
433.6 |
|
|
$ |
381.0 |
|
|
$ |
361.3 |
|
|
Valuation allowances
|
|
|
(210.0 |
) |
|
|
(177.7 |
) |
|
|
(150.1 |
) |
|
|
|
|
|
|
|
|
|
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|
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|
Total
|
|
$ |
223.6 |
|
|
$ |
203.3 |
|
|
$ |
211.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
|
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|
|
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|
Acquired intangibles
|
|
$ |
(12.2 |
) |
|
$ |
(18.4 |
) |
|
$ |
(22.0 |
) |
|
Statutory tax allowances
|
|
|
(0.0 |
) |
|
|
(0.6 |
) |
|
|
(0.7 |
) |
|
Insurance deposit
|
|
|
(0.0 |
) |
|
|
(3.3 |
) |
|
|
(5.0 |
) |
|
Distribution taxes
|
|
|
(29.4 |
) |
|
|
(29.8 |
) |
|
|
(34.0 |
) |
|
Other
|
|
|
(4.9 |
) |
|
|
(2.9 |
) |
|
|
(2.6 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
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|
Total
|
|
$ |
(46.5 |
) |
|
$ |
(55.0 |
) |
|
$ |
(64.3 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net deferred tax asset
|
|
$ |
177.1 |
|
|
$ |
148.3 |
|
|
$ |
146.9 |
|
|
|
|
|
Schedule of Valuation Allowances Against Deferred Tax Assets |
|
The following table summarizes the activity related
to the Company’s valuation allowances:
|
|
|
|
|
|
|
VALUATION ALLOWANCES AGAINST DEFERRED TAX ASSETS
DECEMBER 31
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
Allowances at beginning of year
|
|
$ |
177.7 |
|
|
$ |
150.1 |
|
|
$ |
115.5 |
|
|
Benefits reserved current year
|
|
|
43.5 |
|
|
|
53.7 |
|
|
|
55.2 |
|
|
Benefits recognized current year
|
|
|
(13.8 |
) |
|
|
(5.2 |
) |
|
|
(0.7 |
) |
|
Write-offs and other changes
|
|
|
(0.5 |
) |
|
|
(0.2 |
) |
|
|
(3.0 |
) |
|
Translation difference
|
|
|
3.1 |
|
|
|
(20.7 |
) |
|
|
(16.9 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowances at end of year
|
|
$ |
210.0 |
|
|
$ |
177.7 |
|
|
$ |
150.1 |
|
|
