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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Schedule of Income (Loss) before Provision for Income Taxes
Income (loss) before provision for income taxes consisted of:
SuccessorPredecessor
 Year ended December 31, 2020Period from January 1 to December 31, 2019Period from January 1 to February 7, 2019Year ended December 31, 2018
U.S.$(398.1)$(811.5)$(131.7)$229.8 
Non-U.S178.8 135.6 28.9 143.3 
Income (loss) before provision for income taxes and equity in net income of affiliates$(219.3)$(675.9)$(102.8)$373.1 
Schedule of Provision for Income Taxes
SuccessorPredecessor
Year ended December 31, 2020Period from January 1 to December 31, 2019Period from January 1 to February 7, 2019Year ended December 31, 2018
Current tax provision:
U.S. Federal$(28.8)$(0.3)$(11.1)$(5.7)
State and local7.4 1.6 (3.4)1.0 
Non-U.S.28.6 15.8 4.8 23.5 
Total current tax provision$7.2 $17.1 $(9.7)$18.8 
Deferred tax provision:
U.S. Federal$(100.7)$(109.8)$(14.8)$54.2 
State and local(16.9)(23.5)(3.0)9.8 
Non-U.S.(0.1)(2.0)— (1.2)
Total deferred tax provision$(117.7)$(135.3)$(17.8)$62.8 
Provision (benefit) for income taxes$(110.5)$(118.2)$(27.5)$81.6 
Schedule of Effective Income Tax Rate Reconciliation
The following table summarizes the significant differences between the U.S. Federal statutory tax rate and our effective tax rate for financial statement purposes:
SuccessorPredecessor
 Year ended December 31, 2020Period from January 1 to December 31, 2019Period from January 1 to February 7,
2019		Year ended December 31, 2018
Statutory tax rate21.0 %21.0 %21.0 %21.0 %
State and local taxes, net of U.S. Federal tax benefits5.8 3.4 7.0 2.9 
Nondeductible charges (1)(1.2)(3.7)(1.4)0.7 
Change in fair value of make-whole derivative liability (2)(3.1)(5.4)— — 
U.S. taxes on foreign income(1.0)(0.4)(0.2)0.8 
Non-U.S. taxes3.8 1.5 1.2 (1.1)
Valuation allowance (3)(0.2)4.0 — (0.1)
Legacy transaction costs (4)— — 6.8 — 
Interest(0.2)(0.1)— 0.1 
Tax credits and deductions6.9 1.7 0.5 (2.7)
Tax impact of earnings repatriation (5)— — — 3.8 
Tax contingencies related to uncertain tax positions (4)(0.8)(0.4)(8.2)(0.2)
Impact of tax accounting method change (6)— — — (3.6)
GILTI tax(8.5)(4.4)— — 
CARES Act (7)26.4 — — — 
Other1.5 0.3 — 0.3 
Effective tax rate50.4 %17.5 %26.7 %21.9 %
(1)The impact for 2020 reflects non-deductible transaction costs associated with our Initial Public Offering in July 2020. The impact for the 2019 Successor and Predecessor periods reflects non-deductible transaction costs associated with the Take-Private Transaction.
(2)The impact was due to the non-deductible mark to market expense for tax purposes. The change in fair value of make-whole derivative liability expense was associated with the make-whole provision liability for the Series A Preferred Stock.
(3)The impact for the recognition of deferred tax assets for net operating losses.
(4)The impact for the Predecessor period from January 1 to February 8, 2019 was primarily related to deductible legacy transaction costs incurred in predecessor historical periods.
(5)The impact was due to the mandatory one-time tax on undistributed earnings from our non-U.S. subsidiaries as a result of the enactment of the Tax Cuts and Jobs Act ("2017 Act") in December 2017, which included a provisional charge in 2017 and measurement period adjustments in 2018 to finalize the calculation consistent with the guidance in SAB 118.
(6)The impact was due to a U.S. tax accounting method change approved by the Internal Revenue Service in April 2018.
(7)The impact was due to the CARES Act which was signed into law on March 27, 2020. Among other provisions, the law provides that net operating losses arising in a tax year beginning in 2018, 2019, or 2020 can be carried back five years.
Schedule of Deferred Tax Assets (Liabilities) Deferred tax assets (liabilities) are comprised of the following:
December 31,
20202019
Deferred tax assets:
Operating losses$63.2 $68.4 
Interest expense carryforward93.5 62.3 
Restructuring costs2.3 3.9 
Bad debts4.9 3.9 
Accrued expenses9.0 21.0 
Capital loss and credit carryforwards13.8 11.5 
Foreign exchange— 2.4 
Pension and postretirement benefits71.2 49.9 
ASC 842 - Lease liability17.6 17.1 
Other9.0 5.0 
Total deferred tax assets$284.5 $245.4 
Valuation allowance(35.8)(33.1)
Net deferred tax assets$248.7 $212.3 
Deferred tax liabilities:
Intangibles$(1,318.2)$(1,408.3)
Foreign exchange(6.3)— 
Deferred revenue— (4.1)
ASC 842 - ROU asset(15.2)(20.5)
Other— (0.3)
Total deferred tax liabilities$(1,339.7)$(1,433.2)
Net deferred tax (liabilities) assets$(1,091.0)$(1,220.9)
Schedule of Reconciliation of Unrecognized Tax Benefits The following is a reconciliation of the gross unrecognized tax benefits:
Predecessor:
Gross unrecognized tax benefits as of January 1, 2018$7.7 
Additions for prior years’ tax positions
1.7 
Additions for current year’s tax positions0.9 
Settlements with taxing authority(1.8)
Reduction due to expired statute of limitations (1)(3.1)
Gross unrecognized tax benefits as of December 31, 2018$5.4 
Additions for current year’s tax positions8.9 
Gross unrecognized tax benefits as of February 7, 2019$14.3 
Successor:
Gross unrecognized tax benefits as of January 1, 2019$— 
Impact of purchase accounting14.3 
Additions for current year’s tax positions
5.3 
Settlements with taxing authority(1.6)
Reduction in prior years’ tax positions
(0.1)
Reduction due to expired statute of limitations (2)(0.8)
Gross unrecognized tax benefits as of December 31, 2019$17.1 
Additions for current year’s tax positions
2.3 
Increase in prior years’ tax positions
0.3 
Reduction due to expired statute of limitations (3)(0.8)
Gross unrecognized tax benefits as of December 31, 2020$18.9 
(1)The decrease was primarily due to the release of reserves as a result of the expiration of the statute of limitations for the 2014 tax year.
(2)The decrease was primarily due to the release of reserves as a result of the expiration of the statute of limitations for the 2015 tax year.
(3)The decrease was primarily due to the release of reserves as a result of the expiration of the statute of limitations for the 2016 tax year.