Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The following table presents components of loss from operations before taxes for the years ended December 31:

	2020		2019		2018
Domestic	$	(293.8)	$	(249.6)	$	(300.9)
Foreign	24.3		20.7		(177.4)
Total	$	(269.5)	$	(228.9)	$	(478.3)

Schedule of Components of Income Tax Expense (Benefit)

The following table presents the components of income tax (benefit) expense for the years ended December 31:

	2020		2019		2018
Current
U.S. federal	$	3.5	$	0.7	$	0.8
Foreign	14.6		36.1		49.0
State and local	0.4		1.5		1.9
Total current	18.5		38.3		51.7
Deferred
U.S. federal	7.1		78.1		4.6
Foreign	(22.6)		(11.7)		(19.8)
State and local	(4.0)		12.0		0.7
Total deferred	(19.5)		78.4		(14.5)
Income tax expense (benefit)	$	(1.0)	$	116.7	$	37.2

Schedule of Effective Income Tax Rate Reconciliation

Income tax expense (benefit) attributable to loss from operations before taxes differed from the amounts computed by applying the U.S. federal income tax rate of 21 percent to pre-tax loss from operations. The following table presents these differences for the years ended December 31:

	2020		2019		2018
Statutory tax benefit	$	(56.6)	$	(48.1)	$	(100.5)
State and local taxes (net of federal tax benefit)	(3.6)		(3.8)		1.5
Brazil non-taxable incentive	(5.2)		(5.8)		(3.8)
Valuation allowances	32.5		46.2		80.6
Barbados loan restructuring	—		83.1		—
Netherlands liquidation deferred tax	—		5.9		—
Goodwill impairment	—		—		34.0
Foreign tax rate differential	(6.1)		(1.4)		(33.7)
Tax on unremitted foreign earnings	1.8		8.9		4.9
Change to uncertain tax positions	(23.9)		4.0		3.1
Tax Act - rate impact on deferred tax balance	—		—		(2.5)
U.S. taxed foreign income	8.7		10.5		32.6
Business tax credits	—		—		(1.1)
Non-deductible (non-taxable) items	12.2		18.0		18.9
Termination of company owned life insurance	35.1		—		—
Return to provision	(9.6)		(2.6)		1.6
Withholding tax and other taxes	4.6		6.8		1.7
Other	9.1		(5.0)		(0.1)
Income tax expense (benefit)	$	(1.0)	$	116.7	$	37.2

Summary of Income Tax Contingencies

Details of the unrecognized tax benefits are as follows:

	2020		2019		2018
Balance at January 1	$	50.9	$	49.5	$	48.4
Increases (decreases) related to prior year tax positions, net	0.9		5.1		(1.5)
Increases related to current year tax positions	—		4.4		4.8
Settlements	(7.7)		(5.5)		(1.5)
Reductions due to lapse of applicable statute of limitations	(7.3)		(2.6)		(0.7)
Balance at December 31	$	36.8	$	50.9	$	49.5

Schedule of Deferred Tax Assets and Liabilities

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

	2020		2019
Deferred tax assets
Accrued expenses	$	40.7	$	12.4
Warranty accrual	6.5		8.7
Deferred compensation	6.8		9.8
Allowances for doubtful accounts	4.8		5.4
Inventories	17.6		12.7
Deferred revenue	14.0		18.3
Pensions, post-retirement and other benefits	71.2		69.1
Tax credits	66.0		65.1
Net operating loss carryforwards	175.6		197.1
Capital loss carryforwards	0.4		3.1
State deferred taxes	10.9		8.8
Lease liability	28.4		32.8
Other	5.0		17.3
	447.9		460.6
Valuation allowances	(229.5)		(217.7)
Net deferred tax assets	$	218.4	$	242.9
Deferred tax liabilities
Property, plant and equipment, net	$	15.9	$	26.9
Goodwill and intangible assets	145.9		154.1
Undistributed earnings	32.7		30.0
Right-of-use assets	29.8		32.5
Net deferred tax liabilities	224.3		243.5
Net deferred tax (liability) asset	$	(5.9)	$	(0.6)

Schedule of Deferred Income Taxes by Balance Sheet Account

Deferred income taxes reported in the consolidated balance sheets as of December 31 are as follows:

	2020		2019
Deferred income taxes - assets	$	97.5	$	120.8
Deferred income taxes - liabilities	(103.4)		(134.5)
Net deferred tax assets classified as held-for-sale	—		13.1
Net deferred tax (liabilities) assets	$	(5.9)	$	(0.6)