Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Components of Earnings from Continuing Operations Before Income Taxes

Income taxes have been based on the following components of earnings (loss) from continuing operations before income taxes for the years ended December 31, 2016, 2015 and 2014:

	2016			2015			2014
U.S.	$	(617.9	)	$	(36.3	)	$	(194.8	)
Foreign		120.7			25.6			98.3
Total	$	(497.2	)	$	(10.7	)	$	(96.5	)

Components of Income Tax Expense (Benefit) from Continuing Operations

The components of income tax expense (benefit) from continuing operations for the years ended December 31, 2016, 2015 and 2014 were as follows:

	2016			2015			2014
Federal:
Current	$	(7.3	)	$	8.5		$	(70.4	)
Deferred		(51.7	)		(11.9	)		(10.5	)
State:
Current		(6.0	)		(8.3	)		(11.7	)
Deferred		12.5			(4.6	)		6.1
Foreign:
Current		34.4			19.7			39.5
Deferred		5.8			17.6			(9.2	)
Total	$	(12.3	)	$	21.0		$	(56.2	)

Reconciliation of Differences Between Federal Statutory and Effective Income Tax Rate

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

	2016			2015			2014
Federal statutory tax rate		35.0	%		35.0	%		35.0	%
Change in valuation allowances		(7.1	)		(225.5	)		(6.0	)
Venezuelan devaluation and sale		—			(122.8	)		—
State and local income taxes, net of U.S. federal income tax benefit		—			36.0			5.7
Impairment charges		(32.3	)		(57.8	)		—
Acquisition-related expenses		—			(0.3	)		(0.8	)
Foreign tax		(1.2	)		(19.8	)		(2.7	)
Adjustment of uncertain tax positions and interest		0.5			45.9			2.7
Reorganization		3.9			—			15.4
Foreign tax rate differential		3.0			169.7			8.3
Other		0.7			(56.7	)		0.6
Effective income tax rate		2.5	%		(196.3	%)		58.2	%

Significant Deferred Tax Assets and Liabilities

The significant deferred tax assets and liabilities at December 31, 2016 and 2015 were as follows:

	2016			2015
Deferred tax assets:
Pension and other postretirement benefits plan liabilities	$	100.1		$	120.3
Net operating losses and other tax carryforwards		164.9			156.6
Accrued liabilities		86.1			86.6
Foreign depreciation		14.6			16.6
Other		25.1			30.5
Total deferred tax assets		390.8			410.6
Valuation allowances		(154.1	)		(130.8	)
Net deferred tax assets	$	236.7		$	279.8
Deferred tax liabilities:
Accelerated depreciation	$	(68.2	)	$	(77.6	)
Other intangible assets		(36.0	)		(75.7	)
Inventories		(7.6	)		(11.6	)
Other		(23.1	)		(28.3	)
Total deferred tax liabilities		(134.9	)		(193.2	)
Net deferred tax assets	$	101.8		$	86.6

Transactions Affecting Valuation Allowance On Deferred Tax Assets

Transactions affecting the valuation allowances on deferred tax assets during the years ended December 31, 2016, 2015 and 2014 were as follows:

	2016			2015			2014
Balance, beginning of year	$	130.8		$	144.3		$	132.8
Current year expense-net		35.2			11.8			20.9
Write-offs		(1.0	)		(15.0	)		(2.5	)
Foreign exchange and other		(10.9	)		(10.3	)		(6.9	)
Balance, end of year	$	154.1		$	130.8		$	144.3

Unrecognized Tax Benefits

Changes in the Company’s unrecognized tax benefits at December 31, 2016, 2015 and 2014 were as follows:

	2016			2015			2014
Balance at beginning of year	$	51.0		$	58.5		$	33.8
Acquisitions		—			—			30.9
Additions for tax positions of the current year		0.6			1.1			1.9
Additions for tax positions of prior years		—			—			0.4
Reductions for tax positions of prior years		(1.5	)		(5.4	)		(1.4	)
Settlements during the year		(1.8	)		(0.3	)		(2.9	)
Lapses of applicable statutes of limitations		(6.4	)		(2.9	)		(4.2	)
Balance at end of year	$	41.9		$	51.0		$	58.5