Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Income from Continuing Operations before Taxes

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

	2020		2019		2018
United States	$	(89.6)	$	(108.3)	$	39.3
Foreign	(214.0)		246.7		68.8
Total	$	(303.6)	$	138.4	$	108.1

Schedule of Provision for Income Taxes

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

	2020		2019		2018
Federal:
Current	$	(9.5)	$	(9.0)	$	(6.1)
Deferred	8.9		8.5		3.7
Total Federal	(.6)		(.5)		(2.4)
Foreign:
Current	31.4		79.0		182.3
Deferred	2.6		28.9		(53.0)
Total Foreign	34.0		107.9		129.3
State and Local:
Current	.6		(4.3)		3.0
Deferred	—		—		—
Total State and other	.6		(4.3)		3.0
Total	$	34.0	$	103.1	$	129.9

Schedule of Effective Tax Rate

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

	2020		2019		2018
Statutory federal rate	21.0	%	21.0	%	21.0	%
State and local taxes, net of federal tax benefit	(.2)		(2.7)		2.2
Tax on foreign income	(1.8)		62.1		(16.2)
Tax on uncertain tax positions - Brazil	(2.8)		8.1		67.4
Tax on uncertain tax positions - Rest of World	3.9		8.5		8.5
Reorganizations	(10.0)		185.6		(91.3)
Net change in valuation allowances	(21.4)		(208.0)		128.3
Research credits	.4		(.9)		(1.3)
Other	(.3)		.8		1.6
Effective tax rate	(11.2)	%	74.5	%	120.2	%

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets (liabilities) at December 31 consisted of the following:

	2020		2019
Deferred tax assets:
Tax loss and deduction carryforwards	$	1,997.5	$	2,111.5
Tax credit carryforwards	119.0		658.3
All other future deductions	435.7		485.5
Valuation allowance	(2,327.6)		(2,960.0)
Total deferred tax assets	224.6		295.3
Deferred tax liabilities	$	(90.8)	$	(142.2)
Net deferred tax assets	$	133.8	$	153.1

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

	2020		2019
Deferred tax assets:
Other assets	$	135.8	$	161.2
Total deferred tax assets	135.8		161.2
Deferred tax liabilities:
Long-term income taxes	$	(2.0)	$	(8.1)
Total deferred tax liabilities	(2.0)		(8.1)
Net deferred tax assets	$	133.8	$	153.1

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, 2017	$	48.6
Additions based on tax positions related to the current year	43.5
Additions for tax positions of prior years	65.5
Reductions for tax positions of prior years	(3.7)
Reductions due to lapse of statute of limitations	(.9)
Reductions due to settlements with tax authorities	(15.4)
Balance at December 31, 2018	137.6
Additions based on tax positions related to the current year	13.3
Additions for tax positions of prior years	186.6
Reductions for tax positions of prior years	(3.0)
Reductions due to lapse of statute of limitations	(.6)
Reductions due to settlements with tax authorities	(2.2)
Balance at December 31, 2019	331.7
Additions based on tax positions related to the current year	90.6
Additions for tax positions of prior years	.6
Reductions for tax positions of prior years	(34.1)
Reductions due to lapse of statute of limitations	(16.5)
Reductions due to settlements with tax authorities	(.2)
Balance at December 31, 2020	$	372.1

Tax Years Remaining

As of December 31, 2020, the tax years that remained subject to examination by major tax jurisdiction for our most significant subsidiaries were as follows:

Jurisdiction	Open Years
Brazil	2015-2020
Mexico	2016-2020
Philippines	2017-2020
Poland	2014-2020
Russia	2018-2020
United Kingdom	2019-2020
United States (Federal)	2017-2020