Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

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

Earnings before income taxes for the years ended December 31 were taxed within the following jurisdictions:

In millions	2014		2013			2012
United States	$	276.5	$	(147.4	)	$	(49.3	)
Non-U.S.	932.9		977.0			897.3
Total	$	1,209.4	$	829.6		$	848.0

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The components of the Provision for income taxes for the years ended December 31 were as follows:

In millions	2014			2013		2012
Current tax expense (benefit):
United States	$	168.4		$	2.1	$	(70.1	)
Non-U.S.	148.7			157.5		174.0
Total:	317.1			159.6		103.9
Deferred tax expense (benefit):
United States	(21.4		)	19.2		116.9
Non-U.S.	(2.0		)	10.2		(164.8		)
Total:	(23.4		)	29.4		(47.9		)
Total tax expense (benefit):
United States	147.0			21.3		46.8
Non-U.S.	146.7			167.7		9.2
Total	$	293.7		$	189.0	$	56.0

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

The Provision for income taxes differs from the amount of income taxes determined by applying the applicable U.S. statutory income tax rate to pretax income, as a result of the following differences:

	Percent of pretax income
	2014		2013		2012
Statutory U.S. rate	35.0	%	35.0	%	35.0	%
Increase (decrease) in rates resulting from:
Non-U.S. tax rate differential	(14.8	)	(26.8	)	(22.5	)
Tax on U.S. subsidiaries on non-U.S. earnings	1.7		2.0		4.1
State and local income taxes (1)	1.6		6.3		0.3
Valuation allowances	(1.0	)	2.5		(16.6	)
Change in permanent reinvestment assertion (2)	0.9		6.2		—
Reserves for uncertain tax positions	0.3		(2.9	)	2.4
Impact of change in taxation of retiree drugs subsidy	—		—		1.9
Provision to return and other true-up adjustments	0.1		(0.7	)	(0.1	)
Other adjustments	0.5		1.2		2.1
Effective tax rate	24.3	%	22.8	%	6.6	%

(1) Net of changes in valuation allowances

(2) Net of foreign tax credits

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

A summary of the deferred tax accounts at December 31 are as follows:

In millions	2014			2013
Deferred tax assets:
Inventory and accounts receivable	$	19.2		$	19.7
Fixed assets and intangibles	8.6			3.3
Postemployment and other benefit liabilities	702.5			643.1
Product liability	191.0			221.7
Other reserves and accruals	190.5			198.5
Net operating losses and credit carryforwards	505.9			707.1
Other	77.3			59.2
Gross deferred tax assets	1,695.0			1,852.6
Less: deferred tax valuation allowances	(210.7		)	(218.5		)
Deferred tax assets net of valuation allowances	$	1,484.3		$	1,634.1
Deferred tax liabilities:
Inventory and accounts receivable	$	(42.8	)	$	(46.8	)
Fixed assets and intangibles	(1,999.6		)	(2,046.8		)
Postemployment and other benefit liabilities	(3.3		)	(3.3		)
Other reserves and accruals	(14.1		)	(6.0		)
Other	(20.3		)	(49.1		)
Gross deferred tax liabilities	(2,080.1		)	(2,152.0		)
Net deferred tax assets (liabilities)	$	(595.8	)	$	(517.9	)

Summary of Tax Credit Carryforwards [Table Text Block]

At December 31, 2014, the Company had the following operating loss and tax credit carryforwards available to offset taxable income in prior and future years:

In millions	Amount		Expiration Period
U.S. Federal net operating loss carryforwards	$	696.3	2022-2034
U.S. Federal credit carryforwards	45.2		2024-Unlimited
U.S. State net operating loss carryforwards	2,966.8		2015-2034
U.S. State credit carryforwards	36.6		2015-Unlimited
Non-U.S. net operating loss carryforwards	867.8		2015-Unlimited
Non-U.S. credit carryforwards	2.2		Unlimited

Summary of Valuation Allowance

Activity associated with the Company’s valuation allowance is as follows:

In millions	2014			2013			2012
Beginning balance	$	218.5		$	156.2		$	308.4
Increase to valuation allowance	35.2			89.3			44.5
Decrease to valuation allowance	(38.8		)	(26.3		)	(192.4		)
Accumulated other comprehensive income (loss)	(4.2		)	(0.7		)	(4.3		)
Ending balance	$	210.7		$	218.5		$	156.2

Summary of Unrecognized Tax Benefits

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

In millions	2014			2013			2012
Beginning balance	$	363.3		$	497.5		$	503.4
Additions based on tax positions related to the current year	6.7			19.9			8.5
Additions based on tax positions related to prior years	49.8			152.9			88.2
Reductions based on tax positions related to prior years	(52.4		)	(215.3		)	(24.1		)
Reductions related to settlements with tax authorities	(8.0		)	(84.7		)	(50.6		)
Reductions related to lapses of statute of limitations	(7.1		)	(8.4		)	(29.5		)
Translation (gain) loss	(8.5		)	1.4			1.6
Ending balance	$	343.8		$	363.3		$	497.5