Income Taxes

6 Months Ended

Jun. 30, 2012

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

A reconciliation of income taxes computed at the U.S. federal statutory income tax rate to the provision for income taxes is as follows ($ in millions):

	Three Months Ended										Six Months Ended
	June 30, 2012					June 30, 2011					June 30, 2012					June 30, 2011
	Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent
Tax provision at U.S. statutory rate	$	12.0		35.0	%	$	10.8		35.0	%	$	20.3		35.0	%	$	20.1		35.0	%
Tax benefits of foreign legal structure	(1.6		)	(4.6	)	(0.7		)	(2.2	)	(1.6		)	(2.7	)	(1.3		)	(2.2	)
Foreign tax incentives	1.3			3.8		0.2			0.7		1.5			2.6		3.0			5.2
Adjustments to valuation allowances	1.2			3.6		—			—		2.8			4.8		—			—
Other, net	0.6			1.8		1.3			4.2		0.2			0.4		0.7			1.2
Provision for income taxes	$	13.5		39.6	%	$	11.6		37.7	%	$	23.2		40.1	%	$	22.5		39.2	%

The Company's deferred tax asset valuation allowances are primarily the result of uncertainties regarding future realization of recorded tax benefits on tax loss carryforwards for certain entities. The Company's assumptions, judgments and estimates relative to the valuation allowance of these net deferred tax assets take into account available positive and negative evidence of realizability, including recent financial performance, the ability to realize benefits of restructuring and other recent actions, projections of the amount and category of future taxable income and tax planning strategies. The Company recorded a valuation allowance during 2012 to fully reserve its deferred tax assets related to net operating loss carryforwards in the Philippines.

At June 30, 2012 and December 31, 2011, the Company had no significant unrecognized tax benefits related to income taxes. The Company’s policy with respect to penalties and interest in connection with income tax assessments or related to unrecognized tax benefits is to classify penalties as provision for income taxes and interest as interest expense in its consolidated income statement. There were no material income tax penalties or interest accrued during the either of the three month or six month periods ended June 30, 2012 or 2011.

The Company files income tax returns in the U.S. Federal and several state jurisdictions as well as in many foreign jurisdictions. With certain exceptions, the Company is no longer subject to U.S. Federal, state and local, or foreign income tax examinations for years before 2008.