Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Income from continuing operations before income taxes consists of the following:

	Year Ended December 31,
	2022		2021		2020
United States	$	31.1	$	25.9	$	48.0
Foreign	67.8		48.2		37.2
Income from continuing operations before income taxes	$	98.9	$	74.1	$	85.2

Schedule of Components of Income Tax Expense (Benefit)

Significant components of income tax expense (benefit), net are as follows:

	Year Ended December 31,
	2022		2021		2020
Current:
Federal	$	(1.3)	$	1.7	$	(0.2)
State and local	3.5		3.2		1.9
Foreign	15.4		16.5		12.2
Total current	17.6		21.4		13.9
Deferred:
Federal	(5.6)		(5.8)		7.5
State and local	1.9		1.1		(2.9)
Foreign	2.0		(3.2)		(3.6)
Total deferred	(1.7)		(7.9)		1.0
Total income tax expense, net	$	15.9	$	13.5	$	14.9

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation of income taxes computed at the U.S. federal statutory tax rate to income tax expense is as follows:

	Year Ended December 31,
	2022		2021		2020
Income tax expense at U.S. statutory rate	$	20.8	$	15.6	$	17.9
State income taxes, net of federal tax benefit	1.5		3.1		(0.9)
U.S. taxation of international operations	1.4		1.3		(0.2)
Effective tax rate differential of earnings outside of U.S.	1.9		1.8		2.4
Change in valuation allowance	(11.6)		(5.9)		(4.2)
Research & experimentation	(2.9)		(1.0)		(1.0)
Provision to return	5.0		0.3		(0.1)
Net non-deductible items	0.4		2.4		1.2
Change in uncertain tax positions	(0.3)		(0.2)		(0.6)
Share-based compensation	(1.1)		(4.1)		(1.7)
Tax effect of 2017 tax reform federal rate change	—		—		(0.2)
Other items	0.8		0.2		2.3
Income tax expense	$	15.9	$	13.5	$	14.9

Schedule of Deferred Tax Assets and Liabilities

Significant components of our deferred tax assets and liabilities are as follows:

	December 31,
	2022		2021
Deferred tax assets (“DTA”):
Accruals and reserves	$	5.1	$	13.7
Loss contingency	70.3		3.1
Pensions	0.2		0.5
Inventory	78.1		42.3
Share-based compensation	2.3		4.5
R&D Amortization	7.4		3.6
Tax credit carryforwards	8.2		14.1
Interest limitation carryover	5.5		2.4
Foreign net operating loss carryforwards	8.7		16.3
State net operating loss carryforwards	2.1		2.3
Convertible notes	4.3		6.3
Property, plant and equipment – net DTA	5.2		7.5
Other – net DTA	2.9		12.4
Total deferred tax assets before valuation allowances	200.3		129.0
Valuation allowances	(5.4)		(21.6)
Total deferred tax assets, net of valuation allowances	$	194.9	$	107.4
Deferred tax liabilities (“DTL”):
Property, plant and equipment – net DTL	$	26.0	$	37.9
Goodwill and intangible assets	77.0		82.2
Insurance receivable	53.5		3.1
Other – net DTL	3.1		0.6
Investments	4.5		3.8
Deferred revenue	72.0		37.9
Total deferred tax liabilities	$	236.1	$	165.5
Net deferred tax liabilities	$	41.2	$	58.1
The net deferred tax liability is classified as follows:
Other assets	$	(4.9)	$	(1.7)
Long-term deferred tax liabilities	46.1		59.8
Net deferred tax liabilities	$	41.2	$	58.1

Schedule of Reconciliation of Unrecognized Tax Benefits

The reconciliation of beginning to ending unrecognized tax benefits is as follows:

	Year Ended December 31,
	2022		2021		2020
Unrecognized tax benefits at beginning of the year	$	1.7	$	1.9	$	2.4
Additions (reductions) for tax positions taken during the prior period	—		0.4		(0.6)
Additions for tax positions taken during the current period	—		—		0.2
Reductions relating to settlements with taxing authorities	(0.3)		—		(0.1)
Lapse of statutes of limitation	(0.7)		(0.6)		—
Unrecognized tax benefits at end of the year	$	0.7	$	1.7	$	1.9