Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Component of Income Taxes Expenses

	Years ended December 31,
	2016			2017			2018
	(In millions)
Pre-tax income (loss):
United States	$	(8.2	)	$	26.7		$	(22.5	)
Non-U.S. subsidiaries		47.8			265.1			258.7
Total	$	39.6		$	291.8		$	236.2
Expected tax expense (benefit) at U.S. federal statutory income tax  rate of 35% in 2016 and 2017 and 21% in 2018	$	13.8		$	102.1		$	49.6
Non-U.S. tax rates		(4.3	)		(13.1	)		20.8
Incremental net tax expense (benefit) on earnings and losses of non-U.S. and non-tax group companies		8.2			14.8			(167.8	)
Valuation allowance		(2.2	)		(205.4	)		—
Transition tax		—			76.2			(2.1	)
Global intangible low-tax income, net		—			—			4.0
Change in federal tax rate		—			(77.1	)		60.6
Change in state tax rate		—			—			(1.8	)
U.S. state income taxes, net		1.7			3.5			.6
Adjustment to the reserve for uncertain tax positions, net		7.2			(18.2	)		4.1
Nondeductible expenses		1.9			2.2			3.0
Canada – Germany APA		—			—			(1.4	)
U.S. – Canada APA		(3.4	)		—			—
Domestic production activities deduction		(3.8	)		(3.8	)		—
Other, net		(.5	)		(1.2	)		(.3	)
Provision for income taxes (benefit)	$	18.6		$	(120.0	)	$	(30.7	)
Components of income tax expense (benefit):
Currently payable (refundable):
U.S. federal and state	$	35.5		$	87.3		$	34.1
Non-U.S.		9.5			38.5			51.1
Total		45.0			125.8			85.2
Deferred income taxes (benefit):
U.S. federal and state		(29.1	)		(96.9	)		(145.5	)
Non-U.S.		2.7			(148.9	)		29.6
Total		(26.4	)		(245.8	)		(115.9	)
Provision for income taxes (benefit)	$	18.6		$	(120.0	)	$	(30.7	)
Comprehensive provision for income taxes (benefit) allocable to:
Income (loss) from continuing operations	$	18.6		$	(120.0	)	$	(30.7	)
Discontinued operations		(12.6	)		(67.1	)		23.7
Retained earnings-change in accounting principle		—			—			1.1
Other comprehensive income (loss):
Marketable securities		2.1			2.8			—
Currency translation		(3.4	)		31.1			(4.2	)
Pension plans		(5.0	)		8.6			(4.7	)
Other		(.5	)		(.6	)		(.4	)
Interest rate swap		.2			1.6			—
Total	$	(.6	)	$	(143.6	)	$	(15.2	)

Components of Net Deferred Tax Asset (Liability)

The components of the net deferred tax liability at December 31, 2017 and 2018 are summarized below.  

	December 31,
	2017						2018
	Assets			Liabilities			Assets			Liabilities
	(In millions)
Tax effect of temporary differences related to:
Inventories	$	3.3		$	(.8	)	$	4.7		$	(3.3	)
Marketable securities		—			(25.4	)		—			(.2	)
Property and equipment		.1			(71.8	)		—			(69.0	)
Accrued OPEB costs		3.0			—			2.8			—
Accrued pension costs		70.9			—			75.5			—
Accrued environmental liabilities		28.8			—			35.8			—
Other deductible differences		11.7			—			10.3			—
Other taxable differences		—			(14.0	)		—			(13.2	)
Investments in subsidiaries and affiliates		2.7			(175.8	)		2.6			(58.8	)
Tax on unremitted earnings of non-U.S. subsidiaries		—			(9.5	)		—			(11.3	)
Tax loss and tax credit carryforwards		116.2			—			93.9			—
Valuation allowance		(2.8	)		—			(10.0	)		—
Adjusted gross deferred tax assets (liabilities)		233.9			(297.3	)		215.6			(155.8	)
Netting of items by tax jurisdiction		(114.1	)		(114.1	)		(114.6	)		(114.6	)
Net noncurrent deferred tax asset (liability)	$	119.8		$	(183.2	)	$	101.0		$	(41.2	)

Changes in Uncertain Tax Positions

The following table shows the changes in the amount of our uncertain tax positions (exclusive of the effect of interest and penalties) during 2016, 2017 and 2018:

	Years ended December 31,
	2016			2017			2018
	(In millions)
Unrecognized tax benefits:
Amount beginning of year	$	28.8		$	35.6		$	17.1
Net increase (decrease):
Tax positions taken in prior periods		(.6	)		(13.3	)		1.3
Tax positions taken in current period		11.0			4.5			4.5
Lapse due to applicable statute of limitations		(1.6	)		(8.1	)		(1.8	)
Settlement with taxing authorities		(2.3	)		(2.3	)		—
Changes in currency exchange rates		.3			.7			(.1	)
Amount at end of year	$	35.6		$	17.1		$	21.0