Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Taxes

Schedule of significant components of the Company's deferred income tax liabilities and assets

	December 31,
	2016		2015
	(in millions)
Deferred income tax liabilities:
Excess tax over book depreciation	$	15.5	$	16.2
Intangibles		55.2		48.1
Goodwill		20.4		17.8
Other		6.1		4.5
Total deferred tax liabilities		97.2		86.6
Deferred income tax assets:
Accrued expenses		22.9		26.8
Capital loss carry forward		1.4		3.6
Net operating loss carry forward		7.3		8.9
Inventory reserves		13.5		13.1
Other		13.5		14.0
Total deferred tax assets		58.6		66.4
Less: valuation allowance		(7.1)		(9.5)
Net deferred tax assets		51.5		56.9
Net deferred tax liabilities	$	(45.7)	$	(29.7)

Schedule of pre-tax income upon which provision for income taxes from continuing operations is based

	Year Ended December 31,
	2016		2015		2014
	(in millions)
Domestic	$	64.8	$	(25.8)	$	44.2
Foreign	$	63.0		(85.2)		38.9
	$	127.8	$	(111.0)	$	83.1

Schedule of provision for income taxes from continuing operations

	Year Ended December 31,
	2016		2015		2014
	(in millions)
Current tax expense:
Federal	$	18.3	$	3.4	$	12.8
Foreign		17.2		18.1		20.4
State		3.9		2.0		2.7
		39.4		23.5		35.9
Deferred tax expense (benefit):
Federal		3.6		(13.6)		2.1
Foreign		0.6		(7.0)		(5.2)
State		—		(1.0)		—
		4.2		(21.6)		(3.1)
	$	43.6	$	1.9	$	32.8

Reconciliation of federal statutory taxes to actual income taxes reported from continuing operations

	Year Ended December 31,
	2016		2015		2014
	(in millions)
Computed expected federal income expense	$	44.7	$	(38.8)	$	29.1
State income taxes, net of federal tax benefit		2.2		0.8		2.1
Foreign tax rate differential		(6.7)		7.5		(4.2)
Goodwill impairment		—		29.0		3.2
Change in valuation allowance		—		(1.8)		—
Other, net		3.4		5.2		2.6
	$	43.6	$	1.9	$	32.8