Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Income Taxes and Provision for Income Taxes

Income before income taxes and the provision for income taxes, for the three years ended December 31, 2022, were as follows:

(In millions)	2022			2021			2020
Income before income taxes:
U.S.	$	110.6		$	21.7		$	0.8
International		39.2			0.3			(28.5	)
Total income (loss) before income taxes	$	149.8		$	22.0		$	(27.7	)
Income tax expense (benefit):
Current:
U.S.	$	28.3		$	5.4		$	(11.3	)
International		6.4			3.1			1.7
Current income tax expense (benefit)		34.7			8.5			(9.6	)
Deferred:
U.S.		(8.9	)		(2.3	)		0.1
International		5.8			(0.3	)		(51.5	)
Deferred income tax benefit		(3.1	)		(2.6	)		(51.4	)
Total income tax expense (benefit)	$	31.6		$	5.9		$	(61.0	)

Schedule of Reconciliation of the Provision for Income Taxes at the U.S. Federal Statutory Income Tax Rate to the Actual Income Tax Provision

A reconciliation of the provision for income taxes at the U.S. federal statutory income tax rate of 21.0% to the effective income tax rate, for the year ended December 31, 2022, 2021 and 2020 is as follows:

(In millions)	2022			2021			2020
Provision (benefit) for taxes at U.S. federal statutory rate	$	31.5		$	4.6		$	(5.8	)
State and local taxes, net of federal benefit		0.6			(0.1	)		(4.2	)
Foreign effective rate differential		1.5			0.7			(1.9	)
Tax credits		(4.3	)		(3.5	)		(3.0	)
Change in valuation allowance		0.7			0.7			(39.5	)
Remeasurement of deferred taxes		0.7			1.4			3.5
Excess tax benefits on stock-based compensation		(0.2	)		(0.2	)		(0.9	)
Other		1.6			2.6			(4.3	)
Decrease in reserves for uncertain tax positions		(0.5	)		(0.3	)		(4.9	)
Total income tax expense (benefit)	$	31.6		$	5.9		$	(61.0	)

Schedule of Deferred Income Taxes

Principal components of deferred income taxes as of December 31, 2022 and 2021 are:

(In millions)	2022			2021
Assets
Net operating loss carryforwards	$	89.7		$	93.5
Capital loss carryforward		—			1.6
Tax credit carryforwards		9.2			10.3
Stock-based compensation		9.6			7.8
Other comprehensive income		21.4			21.1
Inventory reserves		10.5			11.5
Right of use liability		11.7			12.2
Capitalized research and development expenditures		9.8			—
Reserves and other		8.1			8.8
Subtotal		170.0			166.8
Valuation allowance		(8.3	)		(7.6	)
Total assets	$	161.7		$	159.2
Liabilities
Accelerated depreciation		(179.3	)		(188.8	)
Accelerated amortization		(18.3	)		(17.3	)
Right of use asset		(11.7	)		(12.2	)
Post-retirement obligations		(12.7	)		(11.6	)
Other		(8.2	)		(0.2	)
Total liabilities		(230.2	)	$	(230.1	)
Net deferred tax liabilities	$	(68.5	)	$	(70.9	)

Schedule of Classification of Deferred Tax Assets and Deferred Tax Liabilities in Consolidated Balance Sheets

Deferred tax assets and deferred tax liabilities as presented in the Consolidated Balance Sheets as of December 31, 2022 and 2021 are as follows and are recorded in other assets and deferred income taxes in the Consolidated Balance Sheets:

(In millions)	2022			2021
Long-term deferred tax assets, net	$	57.9		$	69.1
Long-term deferred tax liability, net		(126.4	)		(140.0	)
Net deferred tax liabilities	$	(68.5	)	$	(70.9	)

Schedule of Unrecognized Tax Benefits

The following table summarizes the activity related to our unrecognized tax benefits.

	Unrecognized Tax Benefits
(In millions)	2022			2021			2020
Balance as of January 1,	$	9.7		$	10.5		$	18.1
Additions based on tax positions related to the current year		0.2			0.2			0.3
Reductions for tax positions of prior years		—			—			(7.9	)
Expiration of the statute of limitations for the assessment of taxes		(7.4	)		(1.0	)		—
Balance as of December 31,	$	2.5		$	9.7		$	10.5