Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Component of Income Taxes Expenses

	Years ended December 31,
	2017			2018			2019
	(In millions)
Pre-tax income (loss):
United States	$	26.7		$	(22.5	)	$	23.5
Non-U.S. subsidiaries		265.1			258.7			81.2
Total	$	291.8		$	236.2		$	104.7
Expected tax expense at U.S. federal statutory income tax rate of 35% in 2017 and 21% in 2018 and 2019	$	102.1		$	49.6		$	22.0
Non-U.S. tax rates		(13.1	)		20.8			5.2
Incremental net tax expense (benefit) on earnings and   losses of U.S. and non-U.S. tax group companies		14.8			(167.8	)		(4.5	)
Valuation allowance		(205.4	)		-			4.5
Transition tax		76.2			(2.1	)		-
Global intangible low-tax income, net		-			4.0			1.8
Tax rate changes		(77.1	)		58.8			4.7
U.S. state income taxes, net		3.5			.6			(.3	)
Adjustment to the reserve for uncertain tax positions, net		(18.2	)		4.1			(5.1	)
Nondeductible expenses		2.2			3.0			1.5
Canada - Germany APA		-			(1.4	)		-
Refund of prior tax payments, net		-			-			(2.1	)
Domestic production activities deduction		(3.8	)		-			-
Other, net		(1.2	)		(.3	)		(1.2	)
Income tax expense (benefit)	$	(120.0	)	$	(30.7	)	$	26.5
Components of income tax expense (benefit):
Currently payable:
U.S. federal and state	$	87.3		$	34.1		$	4.3
Non-U.S.		38.5			51.1			22.0
Total		125.8			85.2			26.3
Deferred income taxes (benefit):
U.S. federal and state		(96.9	)		(145.5	)		(4.1	)
Non-U.S.		(148.9	)		29.6			4.3
Total		(245.8	)		(115.9	)		.2
Income tax expense (benefit)	$	(120.0	)	$	(30.7	)	$	26.5
Comprehensive provision for income taxes (benefit)   allocable to:
Income from continuing operations	$	(120.0	)	$	(30.7	)	$	26.5
Discontinued operations		(67.1	)		23.7			-
Retained earnings-change in accounting principle		-			1.1			-
Other comprehensive income (loss):
Marketable securities		2.8			-			-
Currency translation		31.1			(4.2	)		(.2	)
Pension plans		8.6			(4.7	)		(15.6	)
Other		(.6	)		(.4	)		(.5	)
Interest rate swap		1.6			-			-
Total	$	(143.6	)	$	(15.2	)	$	10.2

Components of Net Deferred Tax Asset (Liability)

The components of the net deferred tax liability at December 31, 2018 and 2019 are summarized below.  

	December 31,
	2018						2019
	Assets			Liabilities			Assets			Liabilities
	(In millions)
Tax effect of temporary differences related to:
Inventories	$	4.7		$	(3.3	)	$	6.2		$	(2.5	)
Marketable securities		-			(.2	)		-			(.3	)
Property and equipment		-			(69.0	)		5.9			(67.9	)
Accrued OPEB costs		2.8			-			2.8			-
Accrued pension costs		75.5			-			80.6			-
Accrued environmental liabilities		35.8			-			33.8			-
Other deductible differences		10.3			-			8.3			-
Other taxable differences		-			(13.2	)		-			(13.4	)
Investments in subsidiaries and affiliates		2.6			(58.8	)		2.6			(54.4	)
Tax on unremitted earnings of non-U.S. subsidiaries		-			(11.3	)		-			(10.8	)
Tax loss and tax credit carryforwards		93.9			-			91.2			-
Valuation allowance		(10.0	)		-			(14.2	)		-
Adjusted gross deferred tax assets (liabilities)		215.6			(155.8	)		217.2			(149.3	)
Netting of items by tax jurisdiction		(114.6	)		(114.6	)		(111.2	)		(111.2	)
Net noncurrent deferred tax asset (liability)	$	101.0		$	(41.2	)	$	106.0		$	(38.1	)

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 2017, 2018 and 2019:

	Years ended December 31,
	2017			2018			2019
	(In millions)
Unrecognized tax benefits:
Amount at beginning of year	$	35.6		$	17.1		$	21.0
Net increase (decrease):
Tax positions taken in prior periods		(13.3	)		1.3			(5.6	)
Tax positions taken in current period		4.5			4.5			.7
Lapse due to applicable statute of limitations		(8.1	)		(1.8	)		-
Settlement with taxing authorities		(2.3	)		-			(2.2	)
Changes in currency exchange rates		.7			(.1	)		(.1	)
Amount at end of year	$	17.1		$	21.0		$	13.8