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Income Taxes (Tables)
3 Months Ended
Mar. 31, 2018
Income Tax Disclosure [Abstract]  
Component of Income Taxes Expenses

 

 

 

Three months ended
March 31,

 

 

 

2017

 

 

2018

 

 

(In millions)

 

Expected tax expense, at U.S. federal statutory income

   tax rate of 35% in 2017 and 21% in 2018

$

14.7

 

 

$

22.4

 

Incremental net tax on earnings and losses of non-U.S. and

   non-tax group companies

 

11.2

 

 

 

4.1

 

Non-U.S. tax rates

 

(2.4

)

 

 

7.0

 

Valuation allowance

 

(5.0

)

 

 

.3

 

Adjustment to the reserve for uncertain tax positions, net

 

.5

 

 

 

1.6

 

Canada – Germany APA

 

 

 

 

(1.4

)

Nondeductible expenses

 

.4

 

 

 

.4

 

Domestic production activities deduction

 

(.6

)

 

 

 

U.S. state income taxes and other, net

 

(.2

)

 

 

1.8

 

Income tax expense

$

18.6

 

 

$

36.2

 

Comprehensive provision for income taxes (benefit) allocable to:

 

 

 

 

 

 

 

Income from continuing operations

$

18.6

 

 

$

36.2

 

Discontinued operations

 

(.8

)

 

 

20.1

 

Retained earnings – change in accounting principle

 

 

 

 

1.1

 

Other comprehensive income (loss):

 

 

 

 

 

 

 

Currency translation

 

1.8

 

 

 

1.4

 

Pension plans

 

.9

 

 

 

1.5

 

OPEB plans

 

(.1

)

 

 

(.1

)

Interest rate swap

 

.4

 

 

 

 

Marketable securities

 

(.1

)

 

 

 

Total

$

20.7

 

 

$

60.2