Income tax (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

(in millions)	2016			2015		2014
U.S. income before income taxes	$	283.6		$	260.1	$	255.3
Non-U.S. income before income taxes	67.3			103.8		108.4
Income from continuing operations before income taxes	$	350.9		$	363.9	$	363.7
Income tax expense consists of the following components:
Current tax expense:
U.S. federal	$	63.2		$	71.8	$	82.6
Foreign	20.1			28.0		31.2
State and local	5.2			8.0		11.3
Total current tax expense	88.5			107.8		125.1
Deferred tax expense (benefit):
U.S. federal	26.7			11.5		1.0
Foreign	(3.9		)	2.1		(0.7		)
State and local	3.4			0.6		(0.8		)
Total deferred tax expense (benefit)	26.2			14.2		(0.5		)
Total income tax expense	$	114.7		$	122.0	$	124.6

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The tax effects of temporary differences that give rise to the deferred tax assets and deferred tax liabilities are presented below. 

(in millions)	2016			2015
Deferred Tax Assets:
Trade receivables, principally due to allowances for returns and doubtful accounts	$	4.1		$	4.4
Inventories, principally due to additional costs inventoried for tax purposes	22.9			19.8
Employee compensation and benefits accrued for financial reporting purposes	60.6			92.1
Foreign net operating losses	25.7			21.7
Foreign tax credits	24.1			24.1
Other	12.8			12.0
Total deferred tax assets	150.2			174.1
Less valuation allowance	(40.3		)	(42.0		)
Total deferred tax assets, after valuation allowance	$	109.9		$	132.1
(in millions)	2016			2015
Deferred Tax Liabilities:
Plant and equipment, principally due to differences in depreciation and capitalized interest	$	130.9		$	123.1
Goodwill and intangible assets, principally due to differences in amortization	195.2			177.6
Total deferred tax liabilities	326.1			300.7
Deferred tax liabilities, net	$	216.2		$	168.6

Schedule of Classification of Deferred Tax Assets and Liabilities [Table Text Block]

The net deferred tax liabilities are reflected in the balance sheet as follows: 

(in millions)	2016		2015
Deferred charges and other assets	$	3.5	$	3.8
Deferred tax liabilities	219.7		172.4
Net deferred tax liabilities	$	216.2	$	168.6

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The Company’s effective tax rate differs from the federal statutory rate due to the following items: 

	2016					2015					2014
(dollars in millions)	Amount			% of Income Before Tax		Amount			% of Income Before Tax		Amount			% of Income Before Tax
Computed “expected” tax expense on income before taxes at federal statutory rate	$	122.8		35.0	%	$	127.4		35.0	%	$	127.3		35.0	%
Increase (decrease) in taxes resulting from:
State and local income taxes net of federal income tax benefit	5.6			1.6		5.6			1.5		6.8			1.9
Foreign tax rate differential	(7.4		)	(2.1	)	(7.5		)	(2.1	)	(7.4		)	(2.0	)
Manufacturing tax benefits	(5.8		)	(1.7	)	(6.7		)	(1.8	)	(7.5		)	(2.1	)
Other	(0.5		)	(0.1	)	3.2			0.9		5.4			1.5
Actual income tax expense	$	114.7		32.7	%	$	122.0		33.5	%	$	124.6		34.3	%

Summary of Income Tax Contingencies [Table Text Block]

A reconciliation of the beginning and ending amount of unrecognized tax benefits, in millions, is as follows: 

	2016			2015
Balance at beginning of year	$	30.7		$	24.1
Additions based on tax positions related to the current year	2.3			2.6
Additions for tax positions of prior years	7.0			11.5
Reductions for tax positions of prior years	(4.5		)	(1.6		)
Reductions due to a lapse of the statute of limitations	(1.7		)	(4.7		)
Settlements	(0.9		)	(1.2		)
Balance at end of year	$	32.9		$	30.7