The components of (loss) income before income taxes for the years ended December 31, 2020, 2019 and 2018 were as follows:

	2020			2019			2018
U.S.	$	(123.8	)	$	(65.1	)	$	(83.4	)
Foreign		107.9			115.7			84.7
Total	$	(15.9	)	$	50.6		$	1.3

The components of income tax expense (benefit) for the years ended December 31, 2020, 2019 and 2018 were as follows:

	2020			2019		2018
U.S. Federal:
Current	$	(4.8	)	$	7.7	$	7.0
Deferred		(5.3	)		6.3		10.2
State:
Current		(0.7	)		0.4		(10.4	)
Deferred		(5.2	)		7.6		(3.2	)
Foreign:
Current		27.3			24.4		24.7
Deferred		(1.3	)		8.5		3.2
Total	$	10.0		$	54.9	$	31.5

The following is a reconciliation of income tax expense at the U.S. federal statutory tax rate for the years ended December 31, 2020, 2019 and 2018:

	2020			2019			2018
Income taxes at the U.S. federal statutory tax rate	$	(3.3	)	$	10.6		$	0.3
Change in valuation allowances		(3.7	)		8.1			8.3
Interest limitation valuation allowance		(8.0	)		27.8			21.2
State and local income taxes, net of U.S. federal income tax benefit		4.7			(7.3	)		(5.9	)
Foreign tax		(2.1	)		5.1			4.6
Adjustment of uncertain tax positions and interest		1.1			(0.6	)		(5.4	)
Foreign tax rate differential		(0.8	)		(0.5	)		(3.7	)
Impact of the Tax Act		—			—			5.5
Tax impact of net gain on sale of Donnelley Financial and LSC shares		—			0.5			—
Tax impact on GILTI		3.5			5.2			4.9
Corporate owned life insurance policies		17.3			—			—
Other		1.3			6.0			1.7
Total	$	10.0		$	54.9		$	31.5

Included in 2020, 2019 and 2018 is the tax impact of limitations on our interest expense deduction as a result of the Tax Act. Non-deductible interest expense will be carried forward as a deferred tax asset; however, it is more likely than not that the benefit of the deferred tax asset will not be fully realized and a full valuation allowance was recorded.

Included in 2020 is the impact from the surrender of corporate owned life insurance policies as well as tax benefits from additional interest expense deductions as result of the Cares Act and additional tax guidance issued in 2020.

Included in 2018 is the final income tax expense adjustment associated with the enactment of the Tax Act, which included the one-time transition tax on foreign earnings, as well as $1.5 million to net deferred tax assets for the reduced corporate income tax rate. Additionally, the 2018 rate includes the inability to recognize a tax benefit on certain losses.

The significant deferred tax assets and liabilities at December 31, 2020 and 2019 were as follows:

	2020			2019
Deferred tax assets:
Pension and OPEB plan liabilities	$	29.1		$	38.9
Net operating losses and other tax carryforwards		195.6			205.6
Interest limitation carryforward		21.4			49.6
Accrued liabilities		48.6			53.9
Foreign depreciation		19.4			30.6
Operating lease liabilities		59.4			48.7
Other		16.7			9.4
Total deferred tax assets		390.2			436.7
Valuation allowances		(195.7	)		(237.5	)
Net deferred tax assets	$	194.5		$	199.2

Deferred tax liabilities:
Accelerated depreciation	$	(50.0	)	$	(70.3	)
Other intangible assets		(8.1	)		(9.4	)
Inventories		(8.6	)		(10.0	)
Operating lease assets		(58.1	)		(47.4	)
Other		(5.7	)		(16.4	)
Total deferred tax liabilities		(130.5	)		(153.5	)

Total net deferred tax assets	$	64.0		$	45.7

The change in net deferred tax assets includes the use of previously disallowed interest and capital losses and their associated valuation allowances as a result of the net gain on sale from discontinued operations.

Transactions affecting the valuation allowances on deferred tax assets during the years ended December 31, 2020, 2019 and 2018 were as follows:

	2020			2019			2018
Balance, beginning of year	$	237.5		$	255.9		$	238.3
Current year expense-net		(44.8	)		34.5			29.1
Write-offs		—			(50.1	)		(0.2	)
Foreign exchange and other		3.0			(2.8	)		(11.3	)
Balance, end of year		195.7			237.5		$	255.9

As of December 31, 2020, we had domestic and foreign net operating loss and other tax credit carryforwards of approximately $126.8 million and $68.8 million ($141.2 million and $64.4 million, respectively, at December 31, 2019), of which $113.5 million expires between 2021 and 2030. Limitations on the utilization of these deferred tax assets may apply therefore we have provided valuation allowances of $174.4 million on these deferred tax assets as of December 31, 2020 ($187.9 million at December 31, 2019).

We are not permanently reinvested on certain foreign earnings yet remain permanently reinvested on all other foreign earnings and other outside basis differences. We have recognized deferred tax liabilities of $4.5 million, $6.7 million and $6.5 million as of December 31, 2020, 2019 and 2018, respectively, related to local taxes on certain foreign earnings which are not considered to be permanently reinvested.

Cash payments for income taxes were $68.7 million, $73.1 million and $37.2 million during the years ended December 31, 2020, 2019 and 2018, respectively. Cash refunds for income taxes were $7.2 million, $12.1 million and $52.5 million during the years ended December 31, 2020, 2019 and 2018, respectively.

Our income taxes payable for federal and state purposes has been reduced by the tax benefits associated with the exercise and vesting of stock based compensation awards.

See Note 15, Other Comprehensive Loss, for details of the income tax expense or benefit allocated to each component of other comprehensive loss.

Changes in unrecognized tax benefits at December 31, 2020, 2019 and 2018 were as follows:

	2020			2019			2018
Balance at beginning of year	$	23.1		$	25.0		$	30.9
Additions for tax positions of the current year		—			0.1			0.2
Additions for tax positions of prior years		4.1			—			—
Reductions for tax positions of prior years		(2.1	)		—			(2.8	)
Settlements during the year		(2.9	)		(0.4	)		(0.1	)
Lapses of applicable statutes of limitations		(1.5	)		(1.6	)		(3.2	)
Balance at end of year	$	20.7		$	23.1		$	25.0

As of December 31, 2020, 2019 and 2018, we had $20.7 million, $23.1 million and $25.0 million, respectively, of unrecognized tax benefits. Unrecognized tax benefits of $13.3 million as of December 31, 2020, if recognized, would decrease income taxes.

As of December 31, 2020, it is reasonably possible that the total amount of unrecognized tax benefits will decrease within twelve months by as much as $10.8 million due to the resolution of audits or expirations of statutes of limitations related to U.S. federal, state and international tax positions.

We classify interest expense and any related penalties related to income tax uncertainties as a component of income tax expense. The total interest (benefit) expense related to tax uncertainties recognized in the Consolidated Statements of Operations were insignificant for the years ended December 31, 2020, 2019 and 2018, respectively. There were no benefits from the reversal of accrued penalties for the years ended December 31, 2020, 2019 and 2018. Accrued interest of $3.7 million and $3.6 million related to income tax uncertainties are reported in Other noncurrent liabilities in the Consolidated Balance Sheets at December 31, 2020 and 2019, respectively. There were no accrued penalties related to income tax uncertainties for the years ended December 31, 2020 and 2019.

We have tax years from 2010 and thereafter that remain open and subject to examination by the IRS, certain state taxing authorities or certain foreign tax jurisdictions.