Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of Components of Income Tax Expense (Benefit)

The Company’s provision for income taxes from continuing operations consists of the following:



	Year Ended December 31,
	2016			2015			2014
Current:
United States federal		$0.1			($21.3	)		$33.8
Non-U.S.	40.5			25.3			45.6
State and local	2.4			—			1.1
Total current	43.0			4.0			80.5
Deferred:
United States federal	14.7			6.0			(42.4		)
Non-U.S.	(5.0		)	(4.3		)	(27.5		)
State and local	0.2			2.9			2.2
Total deferred	9.9			4.6			(67.7		)
Total		$52.9			$8.6			$12.8

Schedule of Effective Income Tax Rate Reconciliation

The following is a reconciliation of the statutory federal income tax rate with the effective tax rate from continuing operations for the tax expense in 2016, 2015 and 2014, respectively:



	Year Ended December 31,
	2016		2015		2014
U.S. federal statutory rate	35.0	%	35.0	%	35.0	%
Permanent differences	4.5		2.3		8.6
State and local income taxes, net of federal income tax	0.9		1.1		1.7
International rate differential, including tax holidays	(24.5	)	(21.2	)	(29.8	)
Non-U.S. valuation allowances	2.1		1.0		2.3
Adjustments for uncertain tax positions	(0.2	)	(12.9	)	1.2
Legal entity restructuring charges	2.3		—		—
Tax credits and other	(0.1	)	0.6		(4.5	)
Foreign repatriation, net of foreign tax credits	8.5		(1.0	)	(4.6	)
Effective rate	28.5	%	4.9	%	9.9	%

Schedule of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities are as follows:



	At December 31,
	2016			2015
Deferred tax assets:
Loss and credit carryforwards		$95.0			$91.8
Pension and employee benefits	35.4			37.7
Deferred revenue	6.0			3.2
Foreign currency hedges	15.9			16.2
Intercompany payables/receivables	57.2			62.0
Other	27.9			42.7
Valuation allowances	(37.6		)	(36.2		)
Total deferred tax assets	199.8			217.4
Deferred tax liabilities:
Depreciation and amortization	270.5			277.4
Contingent debt and accrued interest	89.5			77.9
Unremitted non-U.S. earnings	15.9			15.8
Other	4.0			7.7
Total deferred tax liabilities	379.9			378.8
Net deferred tax liabilities		($180.1	)		($161.4	)

Deferred tax assets and liabilities in the preceding table, after netting by taxing jurisdiction, are in the following captions in the Consolidated Balance Sheets at December 31, 2016 and 2015.



	At December 31,
	2016			2015
Non-current deferred tax asset		$17.7			$14.6
Non-current deferred tax liability	197.8			176.0
Total deferred tax liability		($180.1	)		($161.4	)

Summary of Income Tax Contingencies

A reconciliation of the beginning and ending total amounts of unrecognized tax benefits (exclusive of interest and penalties) is as follows:



	2016			2015
Balance at January 1	$	21.6		$	37.1
Additions based on tax positions related to the current year	0.4			0.2
Additions for tax positions of prior years	0.3			6.1
Settlements	0.4			(5.0		)
Reductions for tax positions of prior years	—			0.1
Lapse of statutes of limitations	(12.2		)	(16.9		)
Balance at December 31		$10.5			$21.6