Income Taxes (Tables)

12 Months Ended

Dec. 31, 2011

Income Tax Expense (Benefit) [Abstract]

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets (liabilities) resulting from temporary differences in the recognition of income and expense for tax and financial reporting purposes at December 31 consisted of the following:

	2011			2010
Deferred tax assets:
Accrued expenses and reserves	$	261.5		$	279.7
Pension and postretirement benefits	166.0			155.4
Asset revaluations	39.5			51.6
Capitalized expenses	105.8			77.9
Intangible assets	74.7			—
Share-based compensation	54.9			55.3
Restructuring initiatives	18.0			39.7
Postemployment benefits	18.4			22.9
Tax loss carryforwards	576.8			465.4
Foreign tax credit carryforwards	282.1			178.8
Minimum tax and business credit carryforwards	47.0			42.6
All other	66.0			89.8
Valuation allowance	(546.1		)	(462.7		)
Total deferred tax assets	1,164.6			996.4
Deferred tax liabilities:
Depreciation and amortization	(48.6		)	(47.3		)
Unremitted foreign earnings	(39.2		)	(35.2		)
Prepaid expenses	(7.9		)	(7.8		)
Capitalized interest	(10.1		)	(10.4		)
All other	(24.1		)	(37.4		)
Total deferred tax liabilities	(129.9		)	(138.1		)
Net deferred tax assets	$	1,034.7		$	858.3

Deferred Tax Assets (Liabilities) Classification

Deferred tax assets (liabilities) at December 31 were classified as follows:

	2011			2010
Deferred tax assets:
Prepaid expenses and other	$	319.0		$	347.4
Other assets	759.5			544.3
Total deferred tax assets	1,078.5			891.7
Deferred tax liabilities:
Income taxes	(19.3		)	(3.4		)
Long-term income taxes	(24.5		)	(30.0		)
Total deferred tax liabilities	(43.8		)	(33.4		)
Net deferred tax assets	$	1,034.7		$	858.3

Income from Continuing Operations before Taxes

Income from continuing operations, before taxes for the years ended December 31 was as follows:

	2011			2010			2009
United States	$	(395.1	)	$	(228.7	)	$	(156.0	)
Foreign	1,137.7			1,174.1			1,069.7
Total	$	742.6		$	945.4		$	913.7

Provision for Income Taxes

The provision for income taxes for the years ended December 31 was as follows:

	2011			2010			2009
Federal:
Current	$	(91.6	)	$	(20.8	)	$	(17.5	)
Deferred	(43.3		)	(56.3		)	(42.1		)
	(134.9		)	(77.1		)	(59.6		)
Foreign:
Current	505.9			470.5			476.2
Deferred	(146.2		)	(38.5		)	(121.4		)
	359.7			432.0			354.8
State and other:
Current	(1.5		)	3.6			2.1
Deferred	(7.1		)	(8.3		)	(2.8		)
	(8.6		)	(4.7		)	(0.7		)
Total	$	216.2		$	350.2		$	294.5

Effective Tax Rate

The effective tax rate for the years ended December 31 was as follows:

	2011		2010		2009
Statutory federal rate	35.0	%	35.0	%	35.0	%
State and local taxes, net of federal tax benefit	(.4	)	(.3	)	.2
Taxes on foreign income, including translation	(2.9	)	(2.1	)	(4.9	)
Audit settlements, statute expirations and amended returns	(4.3	)	(2.5	)	(.7	)
Net change in valuation allowances	.1		(.2	)	3.4
Venezuela devaluation and highly inflationary accounting	—		6.0		—
Other	1.6		1.1		(.8	)
Effective tax rate	29.1	%	37.0	%	32.2	%

Reconciliation of Beginning and Ending Amount of Unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

Balance at December 31, 2008	$	104.3
Additions based on tax positions related to the current year	16.8
Additions for tax positions of prior years	9.7
Reductions for tax positions of prior years	(5.8		)
Reductions due to lapse of statute of limitations	(2.9		)
Reductions due to settlements with tax authorities	(8.7		)
Balance at December 31, 2009	113.4
Additions based on tax positions related to the current year	7.5
Additions for tax positions of prior years	6.4
Reductions for tax positions of prior years	(14.4		)
Reductions due to lapse of statute of limitations	(5.3		)
Reductions due to settlements with tax authorities	(23.3		)
Balance at December 31, 2010	84.3
Additions based on tax positions related to the current year	1.2
Additions for tax positions of prior years	9.3
Reductions for tax positions of prior years	(20.0		)
Reductions due to lapse of statute of limitations	(6.7		)
Reductions due to settlements with tax authorities	(32.1		)
Balance at December 31, 2011	$	36.0

Tax Years Remaining

We file income tax returns in the U.S. federal jurisdiction, and various states and foreign jurisdictions. As of December 31, 2011, the tax years that remained subject to examination by major tax jurisdiction for our most significant subsidiaries were as follows:

Jurisdiction	Open Years
Brazil	2006-2011
China	2006-2011
Mexico	2004, 2006-2011
Poland	2006-2011
Russia	2009-2011
United States	2010-2011