Income Tax Expense (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of components of income (loss) before income taxes

The components of net loss from continuing operations before income tax expense are presented below:

	Years Ended December 31,
	2014			2013			2012
United States	$	(595.1	)	$	(170.3	)	$	(98.2	)
Foreign	100.2			27.0			75.0
Net loss from continuing operations before income tax expense	$	(494.9	)	$	(143.3	)	$	(23.2	)

Schedule of components of the provision for income taxes

The components of income tax (benefit) expense are presented below:

	Years Ended December 31,
	2014			2013			2012
Current
U.S. Federal	$	(14.4	)	$	—		$	(0.1	)
U.S. State	0.3			(0.6		)	(0.1		)
Foreign	17.8			13.6			16.0
Total	3.7			13.0			15.8
Deferred
U.S. Federal	(234.6		)	(119.1		)	3.2
U.S. State	(21.2		)	(9.4		)	0.7
Foreign	(8.5		)	(2.2		)	1.0
Total	(264.3		)	(130.7		)	4.9
Total income tax (benefit) expense	$	(260.6	)	$	(117.7	)	$	20.7

Schedule of reconciliation of the U.S. federal statutory tax rate to the actual tax rate

The reconciliation of the U.S. federal statutory tax rate to the actual tax rate is presented below:

	Years Ended December 31,
	2014		2013		2012
Statutory U.S. federal income tax rate	35.0	%	35.0	%	35.0	%
U.S. state income taxes, net of federal benefit	4.3	%	6.9	%	14.8	%
Federal benefit of R&D and AMT credits, net	2.0	%	0.5	%	9.9	%
Foreign earnings at lower rates than U.S. federal rate	(0.5	)%	(1.4	)%	39.7	%
Federal (benefit) U.S. permanent differences	(3.2	)%	(8.8	)%	(116.1	)%
Federal valuation allowance adjustments	13.2	%	47.7	%	(72.7	)%
Other	1.8	%	2.2	%	0.2	%
Effective income tax rate	52.6	%	82.1	%	(89.2	)%

Schedule of deferred income taxes

The deferred income tax balances are established using the enacted statutory tax rates and are adjusted for changes in such rates in the period of change.

	December 31,
	2014			2013
Deferred tax assets:
Inventory valuation	$	25.2		$	19.1
Reserves and other accrued expenses	70.1			34.2
Compensation not currently deductible	15.2			17.1
Employee pension benefit included in other comprehensive (loss) income	5.6			3.3
Unrealized losses and income from derivative financial instruments included in other comprehensive (loss) income	0.6			0.9
Share-based compensation	10.5			11.1
Net operating loss carry forwards	403.3			236.6
Tax credit carry forwards	40.4			35.5
Valuation allowance	(107.3		)	(178.7		)
Realizable deferred tax assets	463.6			179.1
Deferred tax liabilities:
Deferred costs and prepaid expenses	(41.1		)	(5.1		)
Differences in financial reporting and tax basis for:
Property and equipment	(84.3		)	(34.1		)
Identifiable intangible assets	(880.1		)	(220.2		)
Total deferred tax liabilities	(1,005.5		)	(259.4		)
Net deferred tax liabilities on balance sheet	(541.9		)	(80.3		)
Reported As:
Current deferred tax assets	72.8			35.1
Non-current deferred tax assets	18.6			22.6
Current deferred tax liabilities	(4.5		)	—
Non-current deferred tax liabilities	(628.8		)	(138.0		)
Net deferred tax liabilities on the balance sheet	$	(541.9	)	$	(80.3	)

Schedule of unrecognized tax benefits

The Company had the following activity for unrecognized tax benefits:

	Year Ended December 31,
	2014			2013			2012
Balance at beginning of period	$	8.1		$	1.8		$	1.9
Tax positions related to current year additions	0.5			—			—
Additions for tax positions of prior years	—			7.2			0.1
Tax positions related to prior years reductions	(3.5		)	(0.8		)	—
Reductions due to lapse of statute of limitations on tax positions	—			(0.1		)	—
Current year acquisitions	9.8			—			—
Settlements	(1.0		)	—			(0.2		)
Balance at end of period	$	13.9		$	8.1		$	1.8