Income Tax Expense (Tables)

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Schedule of components of income (loss) before income taxes

The components of (loss) income from continuing operations before income taxes are as follows:

	Years Ended December 31,
	2013			2012			2011
United States	$	(170.3	)	$	(98.2	)	$	(86.1	)
Foreign	27.0			75.0			98.7
(Loss) income from continuing operations before income tax expense	$	(143.3	)	$	(23.2	)	$	12.6

Schedule of components of the provision for income taxes

The components of income tax (benefit) expense are as follows:

	Years Ended December 31,
	2013			2012			2011
Current
U.S. Federal	$	—		$	(0.1	)	$	0.5
U.S. State	(0.6		)	(0.1		)	0.2
Foreign	13.6			16.0			15.9
Total	13.0			15.8			16.6
Deferred
U.S. Federal	(119.1		)	3.2			2.0
U.S. State	(9.4		)	0.7			0.1
Foreign	(2.2		)	1.0			(0.3		)
Total	(130.7		)	4.9			1.8
Total income tax (benefit) expense	$	(117.7	)	$	20.7		$	18.4

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 as follows:

	Years Ended December 31,
	2013		2012		2011
Statutory U.S. federal income tax rate	35.0	%	35.0	%	35.0	%
U.S. state income taxes, net of federal benefit	6.9	%	14.8	%	(35.8	)%
Federal benefit of R&D and AMT credits, net	0.5	%	9.9	%	(0.7	)%
Foreign earnings at lower rates than U.S. federal rate	(1.4	)%	39.7	%	(149.6	)%
Federal (benefit) expense of U.S. permanent differences	(8.8	)%	(116.1	)%	66.8	%
Federal valuation allowance adjustments	47.7	%	(72.7	)%	230.8	%
Other	2.2	%	0.2	%	(0.5	)%
Effective income tax rate	82.1	%	(89.2	)%	146.0	%

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,
	2013			2012
Deferred tax assets:
Inventory valuation	$	19.1		$	11.5
Reserves and other accrued expenses	34.2			3.7
Compensation not currently deductible	17.1			7.1
Employee pension benefit included in other comprehensive (loss) income	3.3			5.3
Unrealized losses and income from derivative financial instruments included in other comprehensive (loss) income	0.9			0.5
Share based compensation	11.1			10.1
Net operating loss carry forwards	236.6			166.7
Tax credit carry forwards	35.5			32.8
Differences in financial reporting and tax basis for:
Property and Equipment	—			17.1
Valuation allowance	(178.7		)	(241.2		)
Realizable deferred tax assets	179.1			13.6
Deferred tax liabilities:
Deferred costs and prepaid expenses	(5.1		)	(2.8		)
Property and Equipment	(34.1		)	—
Differences in financial reporting and tax basis for:
Identifiable intangible assets	(220.2		)	(61.1		)
Total deferred tax liabilities	(259.4		)	(63.9		)
Net deferred tax liabilities on balance sheet	(80.3		)	(50.3		)
Reported As:
Current deferred tax assets	35.1			6.8
Non-current deferred tax assets	22.6			6.3
Current deferred tax liabilities	—			(1.1		)
Non-current deferred tax liabilities	(138.0		)	(62.3		)
Net deferred tax liabilities on the balance sheet	$	(80.3	)	$	(50.3	)

Schedule of unrecognized tax benefits

The Company had the following activity for unrecognized tax benefits:

	Year Ended December 31,
	2013			2012			2011
Balance at beginning of period	$	1.8		$	1.9		$	1.7
Tax positions related to current year additions	—			—			0.2
Additions for tax positions of prior years	7.2			0.1			0.2
Tax positions related to prior years reductions	(0.8		)	—			—
Reductions due to lapse of statute of limitations on tax positions	(0.1		)	—			—
Settlements	—			(0.2		)	(0.2		)
Balance at end of period	$	8.1		$	1.8		$	1.9