Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

The provision for income taxes, relating to continuing operations, is composed of the following as of December 31, 2016, 2015, and 2014 (in millions):

	2016			2015			2014
Current:
U.S. Federal expense (benefit)	$	0.1		$	(0.1	)	$	(0.1	)
State and local tax		0.3			0.1			0.1
Total current		0.4			—			—
Deferred:
U.S. Federal tax		6.9			(16.4	)		—
State and local tax		(0.1	)		(0.8	)		—
Total deferred		6.8			(17.2	)		—

Total income tax	$	7.2		$	(17.2	)	$	—

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, 2016, 2015 and 2014:

	2016			2015			2014
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
Nondeductible items		0.8			1.9			4.5
Other, net		(0.1	)		(0.8	)		(1.7	)
Change in valuation allowance		(2.4	)		(177.9	)		(39.5	)
Effective income tax rate		35.3	%		(139.8	)%		0.3	%

Deferred Income Taxes

Deferred income taxes at December 31, 2016 and 2015 are comprised of the following (in millions):

	2016					2015
	Assets			Liabilities		Assets			Liabilities
Income tax loss carryforwards	$	15.4		$	—	$	24.1		$	—
Other accrued liabilities		3.4			—		3.5			—
Employee benefits related		2.6			—		2.5			—
Property, plant and equipment		1.3			—		1.4			—
Insurance related		0.9			—		1.2			—
Goodwill		0.6			—		0.7			—
Inventories		1.2			—		1.0			—
Accounts receivables		0.2			—		0.3			—
LIFO		—			8.6		—			8.0
Other		0.3			0.6		0.1			0.5
Gross deferred tax assets and liabilities		25.9			9.2		34.8			8.5
Valuation allowance		(6.4	)		—		(7.2	)		—
Total	$	19.5		$	9.2	$	27.6		$	8.5