Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Income before Income Tax, Domestic and Foreign

Income (loss) from continuing operations before income taxes and equity income (loss) as reported in the Consolidated Statements of Operations consists of the following:



(In thousands)	2014			2013			2012
United States	$	20,168		$	(26,855	)	$	40,411
International	(11,846		)	(156,477		)	(258,906		)
Total income (loss) before income taxes and equity income (loss)	$	8,322		$	(183,332	)	$	(218,495	)

Schedule of Components of Income Tax Expense (Benefit)

Income tax expense as reported in the Consolidated Statements of Operations consists of the following:



(In thousands)	2014		2013			2012
Income tax expense (benefit):
Currently payable:
U.S. federal	$	4,495	$	10,949		$	22,603
U.S. state	557		1,375			1,561
International	14,569		41,015			21,795
Total income taxes currently payable	19,621		53,339			45,959
Deferred U.S. federal	2,503		(17,341		)	(3,831		)
Deferred U.S. state	807		401			(843		)
Deferred international	4,240		(1,487		)	(6,034		)
Total income tax expense	$	27,171	$	34,912		$	35,251

Schedule of Effective Income Tax Rate Reconciliation

The following is a reconciliation of the normal expected statutory U.S. federal income tax rate to the effective income tax rate as a percentage of Income (loss) from continuing operations before income taxes and equity income (loss) as reported in the Consolidated Statements of Operations:



(In thousands)	2014			2013			2012
U.S. federal income tax	$	2,913		$	(64,166	)	$	(76,473	)
U.S. state income taxes, net of federal income tax benefit	658			(851		)	290
U.S. domestic manufacturing deductions and credits	(1,882		)	(4,700		)	(3,580		)
Tax costs of repatriation from the Infrastructure Transaction	—			13,181			—
Difference in effective tax rates on international earnings and remittances	4,420			(308		)	1,532
Uncertain tax position contingencies and settlements	(5,298		)	(5,548		)	(5,470		)
Changes in realization on beginning of the year deferred tax assets	2,203			20,125			3,980
Restructuring and impairment charges with no realizable tax benefits	22,049			—			21,387
U.S. nondeductible items	1,216			2,953			1,470
Loss from disposal from the Infrastructure Transaction	1,465			74,946			—
Non-deductible goodwill impairment	—			—			92,763
Cumulative effect of change in statutory tax rates/laws	246			(483		)	(260		)
Loss from unconsolidated entities	(587		)	—			—
Other, net	(232		)	(237		)	(388		)
Total income tax expense	$	27,171		$	34,912		$	35,251

Schedule of Deferred Tax Assets and Liabilities

The tax effects of the temporary differences giving rise to the Company's deferred tax assets and liabilities at December 31, 2014 and 2013 are as follows:



	2014					2013
(In thousands)	Asset			Liability		Asset			Liability
Depreciation and amortization	$	—		$	16,026	$	—		$	24,585
Expense accruals	27,657			—		28,550			—
Inventories	5,009			—		3,592			—
Provision for receivables	798			—		752			—
Deferred revenue	—			1,708		—			1,764
Operating loss carryforwards	75,635			—		75,443			—
Foreign tax credit carryforwards	16,476			—		16,085			—
Capital loss carryforwards	2,102			—		3,177			—
Pensions	86,995			—		81,564			—
Currency adjustments	35,386			—		27,536			—
Equity investment in Infrastructure strategic venture	—			23,885		—			28,965
Unit adjustment liability	34,675			—		39,335			—
Post-retirement benefits	905			—		1,013			—
Other	9,079			—		6,159			—
Subtotal	294,717			41,619		283,206			55,314
Valuation allowance	(131,342		)	—		(127,164		)	—
Total deferred income taxes	$	163,375		$	41,619	$	156,042		$	55,314

The deferred tax asset and liability balances recognized on the Consolidated Balance Sheets at December 31, 2014 and 2013 are as follows:



(In thousands)	2014		2013
Other current assets	$	39,003	$	44,315
Other assets	90,252		65,105
Other current liabilities	1,120		475
Deferred income taxes	6,379		8,217

Summary of Income Tax Contingencies

A reconciliation of the change in the unrecognized income tax benefits balance from January 1, 2012 to December 31, 2014 is as follows:



(In thousands)	Unrecognized Income Tax Benefits			Deferred Income Tax Benefits			Unrecognized Income Tax Benefits, Net of Deferred Income Tax Benefits
Balances, January 1, 2012	$	33,408		$	(517	)	$	32,891
Additions for tax positions related to the current year (includes currency translation adjustment)	584			(8		)	576
Additions for tax positions related to prior years (includes currency translation adjustment)	37			2			39
Other reductions for tax positions related to prior years	(3,987		)	—			(3,987		)
Statutes of limitation expirations	(5,124		)	154			(4,970		)
Balance at December 31, 2012	24,918			(369		)	24,549
Additions for tax positions related to the current year (includes currency translation adjustment)	500			(5		)	495
Additions for tax positions related to prior years (includes currency translation adjustment)	145			(4		)	141
Other reductions for tax positions related to prior years	(3,050		)	—			(3,050		)
Statutes of limitation expirations	(3,348		)	180			(3,168		)
Settlements	(1,616		)	—			(1,616		)
Balance at December 31, 2013	17,549			(198		)	17,351
Additions for tax positions related to the current year (includes currency translation adjustment)	288			(2		)	286
Additions for tax positions related to prior years (includes currency translation adjustment)	156			(55		)	101
Other reductions for tax positions related to prior years	(3,056		)	—			(3,056		)
Statutes of limitation expirations	(2,481		)	143			(2,338		)
Settlements	—			—			—
Total unrecognized income tax benefits that, if recognized, would impact the effective income tax rate at December 31, 2014	$	12,456		$	(112	)	$	12,344

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

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