Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Reconciliation of Beginning and Ending Liability for Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of the liability for unrecognized tax benefits is as follows:

($ in millions)	2019		2018
Balance at January 1	$	3.9	$	3.2
Increase due to current year position	1.6		0.8
Increase due to prior year position	—		0.4
Reduction for expiration of statute of limitations/audits	(0.5)		(0.5)
Balance at December 31	$	5.0	$	3.9

Schedule of Components of Income Before Income Taxes

The components of income before income taxes are:

($ in millions)	2019		2018		2017
U.S. operations	$	161.2	$	132.9	$	96.5
International operations	130.6		107.8		125.9
Total income before income taxes	$	291.8	$	240.7	$	222.4

Schedule of Components of Income Tax Expense

The related provision for income taxes consists of:

($ in millions)	2019		2018		2017
Current:
Federal	$	10.8	$	2.1	$	2.1
State	2.4		3.3		0.1
International	30.5		35.1		37.0
Current income tax provision	43.7		40.5		39.2
Deferred:
Federal and state	10.3		1.4		41.8
International	5.0		(0.5)		(0.1)
Deferred income tax provision	15.3		0.9		41.7
Income tax expense	$	59.0	$	41.4	$	80.9

Schedule of Deferred Tax Assets and Liabilities

The significant components of our deferred tax assets and liabilities at December 31 are:

($ in millions)	2019		2018
Deferred tax assets
Net operating loss carryforwards	$	21.9	$	18.4
Tax credit carryforwards	2.8		10.5
Pension and deferred compensation	25.6		27.2
Other	9.2		11.4
Valuation allowance	(15.9)		(16.0)
Total deferred tax assets	43.6		51.5
Deferred tax liabilities:
Accelerated depreciation	37.9		31.3
Tax on undistributed earnings of subsidiaries	6.3		6.6
Other	0.9		2.0
Total deferred tax liabilities	45.1		39.9
Net deferred tax (liability) asset	$	(1.5)	$	11.6

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the U.S. federal corporate tax rate to our effective consolidated tax rate on income before income taxes follows:

	2019		2018		2017
U.S. federal corporate tax rate	21.0	%	21.0	%	35.0	%
Tax on international operations other than U.S. tax rate	2.7		4.8		(4.5)
Reversal of prior valuation allowance	—		—		(0.5)
Adjustments to reserves for unrecognized tax benefits	0.4		0.2		(0.2)
U.S. tax on international earnings, net of foreign tax credits	0.4		(0.2)		0.1
State income taxes, net of federal tax effect	1.4		2.3		0.2
U.S. research and development credits	(1.0)		(0.9)		(0.8)
Excess tax benefits on share-based payments	(3.5)		(6.0)		(14.1)
Impact of 2017 Tax Act	—		(2.9)		15.9
Tax on undistributed earnings of subsidiaries	(0.2)		(1.3)		4.4
Venezuela deconsolidation	—		—		1.7
Other business credits and Section 199 Deduction	—		—		(0.6)
Other	(1.0)		0.2		(0.2)
Effective tax rate	20.2	%	17.2	%	36.4	%