Income Taxes Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The provision for income taxes consists of the following for the years ended December 31, (in millions):

	2016			2015			2014
Current:
Federal	$	126.6		$	103.0		$	24.5
State	39.0			18.8			5.9
Foreign	86.8			19.4			19.2
Total current	252.4			141.2			49.6
Deferred	33.4			(7.2		)	39.3
Total provision	$	285.8		$	134.0		$	88.9
Total provision (benefit) — discontinued operations	$	(0.2	)	$	55.8		$	(0.2	)
Total provision — continuing operations	$	286.0		$	78.2		$	89.1

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

A reconciliation of the U.S. statutory rate to the effective income tax rate on a continuing basis is as follows for the years ended December 31,:

	2016		2015		2014
Statutory rate	35.0	%	35.0	%	35.0	%
Add (deduct) effect of:
State income taxes, net of federal income tax effect	4.2		3.0		2.1
Foreign tax credit	1.3		(17.5	)	(5.5	)
Foreign rate differential	(9.8	)	(10.5	)	(7.0	)
Resolution of tax contingencies, net of increases	(2.1	)	1.2		(0.6	)
Valuation allowance reserve (decrease) increase	(3.3	)	0.2		(2.7	)
Manufacturing deduction	(2.2	)	(2.0	)	(1.5	)
Statutory tax rate change	(4.9	)	—		—
Tools outside basis difference	20.2		—		—
Venezuela deconsolidation	—		15.7		—
Other	(3.3	)	(1.9	)	(0.5	)
Effective rate	35.1	%	23.2	%	19.3	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The components of net deferred tax assets are as follows as of December 31, (in millions):

	2016			2015
Deferred tax assets:
Accruals not currently deductible for tax purposes	$	285.8		$	166.9
Inventory	83.9			4.8
Postretirement liabilities	44.0			28.6
Pension liabilities	149.8			113.5
Net operating losses	361.3			248.3
Foreign tax credits	34.0			—
Other	193.0			78.8
Total gross deferred tax assets	1,151.8			640.9
Less valuation allowance	(325.3		)	(291.0		)
Net deferred tax assets after valuation allowance	$	826.5		$	349.9
Deferred tax liabilities:
Accelerated depreciation	$	(159.5	)	$	(69.7	)
Amortizable intangibles	(5,300.5		)	(463.6		)
Outside basis differences	(319.0		)	—
Other	(35.0		)	(4.7		)
Total gross deferred tax liabilities	$	(5,814.0	)	$	(538.0	)
Net deferred tax liabilities	$	(4,987.5	)	$	(188.1	)
Noncurrent deferred income tax assets	$	95.3		$	38.5
Noncurrent deferred income tax liabilities	(5,082.8		)	(226.6		)
	$	(4,987.5	)	$	(188.1	)

Summary of Income Tax Contingencies [Table Text Block]

The following table summarizes the changes in gross unrecognized tax benefits for the years ended December 31, (in millions):

	2016			2015
Unrecognized tax benefits balance at January 1,	$	162.9		$	101.4
Acquisition related	216.4			—
Increases in tax positions for prior years	4.8			63.1
Decreases in tax positions for prior years	(4.4		)	(19.4		)
Increases in tax positions for current year	30.0			21.5
Settlements with taxing authorities	(0.1		)	(2.6		)
Lapse of statute of limitations	(41.7		)	(1.1		)
Unrecognized tax benefits balance at December 31,	$	367.9		$	162.9