Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of income (loss) before income taxes and adjustment for noncontrolling interests

Components of the Company’s income (loss) before income taxes and adjustment for noncontrolling interests are as follows:

	Predecessor		Successor
	Five Months Ended May 31, 2010		Seven Months Ended December 31, 2010		Year Ended December 31,
					2011			2012
Domestic	$	161,014	$	20,595	$	111,884		$	69,914
Foreign		158,940		25,625		(14,621	)		(2,629	)
	$	319,954	$	46,220	$	97,263		$	67,285

Schedule of provision (benefit) for income taxes

The Company’s provision (benefit) for income taxes consists of the following:

	Predecessor		Successor
	Five Months Ended May 31, 2010		Seven Months Ended December 31, 2010			Year Ended December 31,
						2011			2012
Current
Federal	$	—	$	—		$	5,030		$	2,558
State		2,003		(91	)		695			480
Foreign		6,888		12,946			15,565			6,817
Deferred
Federal		614		—			—			(35,883	)
State		55		—			—			(4,279	)
Foreign		30,380		(7,760	)		(525	)		(1,224	)
	$	39,940	$	5,095		$	20,765		$	(31,531	)

Schedule reconciles the United States statutory federal rate to the income tax provision

The following schedule reconciles the United States statutory federal rate to the income tax provision:

	Predecessor			Successor
	Five Months Ended May 31, 2010			Seven Months Ended December 31, 2010			Year Ended December 31,
							2011			2012
Tax at U.S. statutory rate	$	111,984		$	16,177		$	34,042		$	23,550
State and local taxes		7,899			1,606			860			1,469
Tax credits		(1,936	)		(4,179	)		(4,464	)		(2,875	)
Reorganization items and fresh- start accounting adjustments, net		(37,761	)		—			—			—
US-Canada APA settlement		5,867			(651	)		2,658			—
Foreign withholding taxes		789			1,823			2,290			242
Effect of foreign tax rates		(7,376	)		(3,788	)		(7,739	)		(6,147	)
Tax audits & assessments		(258	)		1,635			260			2,541
Valuation allowance		(38,915	)		(5,377	)		(10,839	)		(57,652	)
Other, net		(353	)		(2,151	)		3,697			7,341
Income tax provision	$	39,940		$	5,095		$	20,765		$	(31,531	)
Effective income tax rate		12.5	%		11.0	%		21.3	%		(46.9	)%

Deferred tax assets and liabilities

Significant components of the Company’s deferred tax assets and liabilities at December 31 are as follows:

	2011			2012
Deferred tax assets:
Postretirement and other benefits	$	67,629		$	75,927
Capitalized expenditures		7,221			5,365
Net operating loss and tax credit carryforwards		156,382			138,905
All other items		40,852			42,418
Total deferred tax assets		272,084			262,615
Deferred tax liabilities:
Property, plant and equipment		(49,884	)		(47,480	)
Intangibles		(42,930	)		(37,015	)
All other items		(121	)		(2,662	)
Total deferred tax liabilities		(92,935	)		(87,157	)
Valuation allowances		(152,373	)		(97,285	)
Net deferred tax assets	$	26,776		$	78,173

Net deferred tax assets and liabilities

Net deferred taxes in the consolidated balance sheets are as follows:

	2011			2012
Current assets	$	14,161		$	16,562
Non-current assets		31,968			72,718
Current liabilities		(550	)		(306	)
Non-current liabilities		(18,803	)		(10,801	)
	$	26,776		$	78,173

Reconciliation of unrecognized tax benefits

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

	Predecessor			Successor
	Five Months Ended May 31, 2010			Seven Months Ended December 31, 2010			Year Ended December 31,
							2011			2012
Balance at beginning of period	$	3,218		$	2,996		$	2,758		$	3,303
Tax positions related to the current period
Gross additions		107			13			951			2,294
Gross reductions		—			(19	)		—			—
Tax positions related to prior years
Gross additions		—			1,676			1,629			110
Gross reductions		(79	)		(1,443	)		—			(396	)
Settlements		(250	)		—			(1,630	)		(411	)
Lapses on statutes of limitations		—			(465	)		(405	)		—
Balance at end of period	$	2,996		$	2,758		$	3,303		$	4,900