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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

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, 2018, were as follows:

(In millions)	2018		2017			2016
Income before income taxes:
U.S.	$	222.9	$	155.5		$	149.1
International		110.6		167.7			188.5
Total income before income taxes	$	333.5	$	323.2		$	337.6

Provision for income taxes:
Current:
U.S.	$	18.3	$	18.9		$	(9.5	)
International		14.9		20.3			37.1
Current provision for income taxes		33.2		39.2			27.6
Deferred:
U.S.		26.8		(1.9	)		54.3
International		2.5		5.2			8.4
Deferred provision for income taxes		29.3		3.3			62.7
Total provision for income taxes	$	62.5	$	42.5		$	90.3

Schedule of a 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% to the effective income tax rate, for the year ended December 31, 2018 and 35% for the two years ended December 31, 2017 and 2016, is as follows:

(In millions)	2018			2017			2016
Provision for taxes at U.S. federal statutory rate	$	70.0		$	113.1		$	118.2
State and local taxes, net of federal benefit		7.2			0.2			3.1
Foreign effective rate differential		4.6			(14.4	)		(26.8	)
Tax credits		(7.8	)		(16.0	)		(10.1	)
Change in valuation allowance		(3.4	)		(9.1	)		10.4
Remeasurement of deferred taxes		(9.0	)		(67.8	)	—
Transition tax on undistributed foreign earnings		1.6			45.7		—
Excess tax benefits on stock based compensation		(4.6	)		(7.6	)		(2.8	)
Other		(0.5	)		4.9			4.9
Release of reserves for uncertain tax positions		(1.3	)		(6.5	)		(6.6	)
Global intangible low taxed income		5.7		—			—
Total provision for income taxes	$	62.5		$	42.5		$	90.3

Schedule of Deferred Income Taxes

Principal components of deferred income taxes as of December 31, 2018 and 2017 are:

(In millions)	2018			2017
Assets
Net operating loss carryforwards	$	67.8		$	65.1
Unfunded pension liability and other postretirement obligations	1.7			0.5
ASC 606 - revenue from contracts with customers	9.3			—
Tax credit carryforwards	8.1				10.8
Stock based compensation	8.4			7.1
Other comprehensive income	4.1			0.2
Reserves and other	15.6			13.5
Subtotal		115.0		97.2
Valuation allowance		(48.8	)		(54.9	)
Total assets	$	66.2		$	42.3
Liabilities
Accelerated depreciation		(163.0	)		(144.1	)
Accelerated amortization		(11.8	)		(11.3	)
Other		(4.0	)		(1.3	)
Total liabilities	$	(178.8	)	$	(156.7	)
Net deferred tax liabilities	$	(112.6	)	$	(114.4	)

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, 2018 and 2017 are as follows and are recorded in prepaid expenses and other current assets, deferred tax assets, other accrued liabilities and other non-current liabilities in the consolidated balance sheets:

(In millions)	2018			2017
Long-term deferred tax assets, net	$	32.1		$	14.3
Long-term deferred tax liability, net		(144.7	)		(128.7	)
Net deferred tax (liabilities) assets	$	(112.6	)	$	(114.4	)

Schedule of Unrecognized Tax Benefits

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

	Unrecognized Tax Benefits
(In millions)	2018			2017			2016
Balance as of January 1,	$	12.3		$	16.7		$	25.3
Additions based on tax positions related to the current year		1.1			5.3			7.3
(Reductions) additions for tax positions of prior years		(5.7	)		(6.1	)		(11.1	)
Expiration of the statute of limitations for the assessment of taxes		(0.3	)		(4.8	)		(4.2	)
Other, including currency translation		0.1			1.2			(0.6	)
Balance as of December 31,	$	7.5		$	12.3		$	16.7