Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

The provision for income taxes, relating to continuing operations, is composed of the following as of December 31, 2015, 2014, and 2013 (in millions):

	2015			2014			2013
Current:
U.S. Federal benefit	$	(0.1	)	$	(0.1	)	$	—
State and local tax		0.1			0.1			0.1
Total current		—			—			0.1
Deferred:
U.S. Federal tax		(16.4	)		—			—
State and local tax		(0.8	)		—			—
Total deferred		(17.2	)		—			—

Total income tax	$	(17.2	)	$	—		$	0.1

Details of Reconciliation of Income Taxes

A reconciliation of income taxes based on the application of the statutory federal income tax rate to income taxes as set forth in the consolidated statements of income follows for the years ended December 31, 2015, 2014 and 2013:

	2015				2014				2013
Federal statutory rate		35.0		%		35.0		%		35.0		%
Increase (decrease) in taxes resulting from:
State and local taxes		2.0				2.0				2.0
Contingency accrual adjustment		—				—				(1.2	)
Nondeductible items		1.9				4.5				5.9
Other, net		(0.8	)			(1.7	)			3.8
Change in valuation allowance		(177.9	)			(39.5	)			(42.8	)
Effective income tax rate		(139.8	)	%		0.3		%		2.7		%

Deferred Income Taxes

Deferred income taxes at December 31, 2015 and 2014 are comprised of the following (in millions):

	2015					2014
	Assets			Liabilities		Assets			Liabilities
Income tax loss carryforwards	$	24.1		$	—	$	29.8		$	—
Other accrued liabilities		3.5			—		2.6			—
Employee benefits related		2.5			—		2.1			—
Property, plant and equipment		1.4			—		1.4			—
Insurance related		1.2			—		1.0			—
Goodwill		0.7			—		0.9			—
Inventories		1.0			—		0.5			—
Accounts receivables		0.3			—		0.2			—
LIFO		—			8.0		—			8.5
Other		0.1			0.5		0.2			0.5
Gross deferred tax assets and liabilities		34.8			8.5		38.7			9.0
Valuation allowance		(7.2	)		—		(29.7	)		—
Total	$	27.6		$	8.5	$	9.0		$	9.0