Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Components of Earnings from Operations Before Income Taxes

Income taxes have been based on the following components of earnings from operations before income taxes for the years ended December 31, 2017, 2016 and 2015:

	2017		2016		2015
U.S.	$	49.1	$	84.9	$	156.1
Foreign		7.1		9.4		15.6
Total	$	56.2	$	94.3	$	171.7

Components of Income Tax Expense (Benefit) from Operations

The components of income tax expense (benefit) from operations for the years ended December 31, 2017, 2016 and 2015 were as follows:  

	2017			2016			2015
Current:
U.S. Federal	$	12.5		$	28.6		$	41.3
U.S. State and Local		5.1			9.0			12.1
Foreign		3.4			3.5			3.8
Current income tax expense		21.0			41.1			57.2
Non-Current:
U.S. Federal		12.5			—			—
U.S. State and Local		0.6			—			—
Non-current income tax expense		13.1			—			—
Deferred:
U.S. Federal		13.3			(3.1	)		8.1
U.S. State and Local		(0.1	)		(0.4	)		2.2
Foreign		(0.8	)		(2.4	)		(0.1	)
Deferred income tax expense (benefit)		12.4			(5.9	)		10.2
Total	$	46.5		$	35.2		$	67.4

Reconciliation of Differences Between U.S Federal Statutory and Effective Income Tax Rate

The following table outlines the reconciliation of differences between the U.S. Federal statutory tax rate and the Company’s worldwide effective income tax rate:

	2017			2016			2015
Federal statutory tax rate		35.0	%		35.0	%		35.0	%
Federal and state transition tax on foreign earnings		25.3			—			—
Tax Act revaluation of U.S. net deferred tax assets		14.8			—			—
State and local income taxes, net of U.S. federal income tax benefit		5.7			5.9			5.4
Non-deductible expenses		3.6			—			—
Changes in valuation allowances		0.5			(1.9	)		—
Adjustment of uncertain tax positions and interest		(0.4	)		0.6			0.1
Domestic manufacturing deduction		(0.7	)		(1.3	)		(0.9	)
Foreign tax rate differential		(1.3	)		(0.7	)		(1.0	)
Other		0.2			(0.3	)		0.7
Effective income tax rate		82.7	%		37.3	%		39.3	%

Significant Deferred Tax Assets and Liabilities

The significant deferred tax assets and liabilities at December 31, 2017 and 2016 were as follows:

	2017			2016
Deferred tax assets:
Pension and other postretirement benefit plans liabilities	$	15.9		$	24.1
Accrued liabilities		11.9			18.5
Net operating losses and other tax carryforwards		10.1			14.4
Allowance for doubtful accounts		2.5			3.3
Share-based compensation		2.9			2.2
Other		1.2			2.4
Total deferred tax assets		44.5			64.9
Valuation allowances		(1.5	)		(1.2	)
Total deferred tax assets	$	43.0		$	63.7
Deferred tax liabilities:
Other intangible assets	$	(12.8	)	$	(21.0	)
Accelerated depreciation		(6.8	)		(3.1	)
Other		(1.6	)		(2.6	)
Total deferred tax liabilities		(21.2	)		(26.7	)
Net deferred tax assets	$	21.8		$	37.0

Transactions Affecting Valuation Allowance On Deferred Tax Assets

The amounts above are included in the Consolidated Balance Sheets as either a net asset or liability on a jurisdiction by jurisdiction basis.

Transactions affecting the valuation allowances on deferred tax assets during the years ended December 31, 2017, 2016 and 2015 were as follows:

	2017		2016			2015
Balance, beginning of year	$	1.2	$	4.9		$	5.3
Current year expense (benefit)-net		0.3		(1.5	)		—
Write-offs		—		(2.3	)		—
Foreign exchange and other		—		0.1			(0.4	)
Balance, end of year	$	1.5	$	1.2		$	4.9

Unrecognized Tax Benefits

Changes in the Company’s unrecognized tax benefits at December 31, 2017, 2016 and 2015 were as follows:

	2017			2016		2015
Balance at beginning of year	$	1.9		$	1.0	$	0.7
Additions for tax positions of the current year		—			—		0.3
Additions for tax positions of prior years		—			0.9		—
Settlements during the year		(1.4	)		—		—
Releases		(0.2	)		—		—
Balance at end of year	$	0.3		$	1.9	$	1.0