Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Taxes [Abstract]

Income tax expense (benefit)

Total income tax expense (benefit) for the years ended December 31 was comprised of the following:

	2012		2011			2010
Continuing operations	$	23.3	$	20.8		$	20.3
Discontinued operations				(0.6	)		(0.7	)
		23.3		20.2			19.6

Income from continuing operations before income taxes and income (loss) from affiliates and joint ventures

Income from continuing operations before income taxes and income (loss) from affiliates and joint ventures was comprised of the following:

	2012		2011		2010
Income from continuing operations before income taxes and income (loss)from affiliates and joint ventures:
Domestic	$	56.4	$	53.8	$	43.6
Foreign		27.9		21.5		17.1
		84.3		75.3		60.7

Components of provision for income taxes

The components of the provision for income taxes attributable to income from continuing operations before income taxes and income (loss) from affiliates and joint ventures for the years ended December 31 consisted of:

	2012			2011			2010
Provision (benefit) for income taxes:
Federal:
Current	$	14.0		$	5.2		$	7.4
Deferred		0.8			6.4			2.1
State:
Current		2.8			2.9			2.4
Deferred		(1.9	)		0.4			-
Foreign:
Current		8.4			8.0			7.4
Deferred		(0.8	)		(2.1	)		1.0
		23.3			20.8			20.3

Significant portions of the deferred tax assets and liabilities

The tax effects of temporary differences that gave rise to significant portions of the deferred tax assets and liabilities as of December 31 were as follows:

	2012			2011
Deferred tax assets attributable to:
Accounts receivable	$	2.1		$	1.1
Inventories		2.7			1.7
Employee benefit plans		28.3			25.6
Accrued liabilities		0.6			0.5
Employee incentive plans		2.4			1.3
Tax credit carryforwards		6.9			7.2
Available-for-sale securities		-			2.8
Other		0.3			0.8
Total deferred tax assets		43.3			41.0
Deferred tax liabilities attributable to:
Plant and equipment		(17.7	)		(17.6	)
Land and mineral reserves		(12.7	)		(13.5	)
Joint ventures		(2.0	)		(1.8	)
Intangible assets		(2.7	)		(1.7	)
Available-for-sale securities		(1.2	)		-
Other		(0.8	)		(0.5	)
Total deferred tax liabilities		(37.1	)		(35.1	)
Valuation allowances		(5.1	)		(6.8	)
Net deferred tax asset (liability)		1.1			(0.9	)

Effective income tax rate reconciliation

The following analysis reconciles the U.S. statutory federal income tax rate to the effective tax rates related to income from continuing operations before income taxes and equity income (loss) of affiliates and joint ventures:

	2012						2011						2010
	Amount			Percent of Pretax Income			Amount			Percent of Pretax Income			Amount			Percent of Pretax Income
Provision for income taxes at
U.S. statutory rates	$	29.5			35.0	%	$	26.3			35.0	%	$	21.2			35.0	%
Increase (decrease) in taxes resulting from:
Percentage depletion		(5.0	)		-6.0	%		(4.9	)		-6.5	%		(3.9	)		-6.4	%
State taxes, net of federal benefit		1.7			2.1	%		2.2			2.9	%		1.5			2.6	%
Foreign tax rates		(3.9	)		-4.6	%		(1.0	)		-1.4	%		(0.9	)		-1.5	%
Change in reserve for tax uncertainties		-			0.0	%		(0.7	)		-0.9	%		0.1			0.1	%
Domestic manufacturing deduction		(1.6	)		-1.9	%		(0.8	)		-1.1	%		(0.5	)		-0.8	%
Change in state tax rates		(1.9	)		-2.2	%		-			0.0	%		(0.1	)		-0.2	%
Foreign witholding tax		1.6			2.0	%		1.0			1.3	%		0.6			1.0	%
Foreign tax credits		(3.2	)		-3.8	%		(2.4	)		-3.1	%		(2.2	)		-3.6	%
Changes to valuation allowance		1.9			2.2	%		(0.2	)		-0.3	%		3.4			5.6	%
Tax from foreign disregarded entities		0.4			0.5	%		0.3			0.3	%		1.4			2.2	%
Other		3.8			4.3	%		1.0			1.4	%		(0.3	)		-0.6	%
		23.3			27.6	%		20.8			27.6	%		20.3			33.4	%

Activity related to unrecognized tax benefits

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

	2012		2011			2010
Balance at beginning of the year	$	-	$	0.8		$	0.7
Increases related to prior year tax positions							0.1
Increases related to current year tax positions
Decreases related to the expiration of statue of limitation / settlement of audits				(0.8	)
Balance at the end of the year		-		-			0.8