Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Components of income (loss) before income taxes for the years ended December 31, 2018, 2017 and 2016, are presented below:

	2018		2017		2016
United States	$	168.3	$	91.6	$	(40.4	)
Foreign	11.5		9.7		6.7
Noncontrolling interests	58.1		61.4		66.0
Income before income taxes	$	237.9	$	162.7	$	32.3

Schedule of Deferred Tax Assets and Liabilities

Significant components of deferred tax assets and liabilities at December 31, 2018 and 2017 are presented below:

	2018			2017
Deferred tax assets:
Net operating and capital loss and tax credit carryforwards	$	516.7		$	619.5
Postretirement benefits	81.8			92.5
Pension benefits	114.1			117.5
Inventories	38.5			47.9
Other assets	65.1			71.6
Valuation allowance	(693.5		)	(735.7		)
Total deferred tax assets	122.7			213.3
Deferred tax liabilities:
Depreciable assets	(108.3		)	(121.9		)
Other liabilities	(33.4		)	(118.3		)
Total deferred tax liabilities	(141.7		)	(240.2		)
Net deferred tax liabilities	$	(19.0	)	$	(26.9	)

Summary of Valuation Allowance

Changes in the valuation allowance for the years ended December 31, 2018, 2017 and 2016, are presented below:

	2018			2017			2016
Balance at beginning of year	$	735.7		$	1,189.7		$	1,232.3
Change in valuation allowance:
Included in income tax expense (benefit)	(52.8		)	(62.3		)	11.0
Change in deferred assets in other comprehensive income	10.6			8.5			(53.6		)
Effect of tax rate changes	—			(400.2		)	—
Balance at end of year	$	693.5		$	735.7		$	1,189.7

Schedule of Components of Income Tax Expense (Benefit)

Significant components of income tax expense (benefit) are presented below:

	2018			2017			2016
Current:
Federal	$	(0.5	)	$	(4.5	)	$	(3.7	)
State	(0.3		)	0.3			0.2
Foreign	2.1			2.4			1.7
Deferred:
Federal	(5.3		)	0.7			15.1
State	—			0.1			1.4
Foreign	(2.2		)	(0.4		)	—
Benefits of operating loss carryforwards	—			—			(16.1		)
Amount allocated to other comprehensive income	—			—			(15.5		)
Change in valuation allowance on beginning-of-the-year deferred tax assets	—			(0.8		)	—
Income tax expense (benefit)	$	(6.2	)	$	(2.2	)	$	(16.9	)

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation of income tax on income before income taxes computed at the U.S. federal statutory tax rates to actual income tax expense is presented below:

	2018			2017			2016
Income tax expense at U.S. federal statutory rate	$	50.0		$	57.2		$	11.3
Income tax expense calculated on noncontrolling interests	(12.2		)	(21.5		)	(23.1		)
State and foreign tax expense, net of federal tax	(2.3		)	6.3			0.2
Increase (decrease) in deferred tax asset valuation allowance	(52.8		)	(51.8		)	11.0
Amount allocated to other comprehensive income	—			—			(15.5		)
Remeasurement of deferred taxes for U.S. tax legislation	—			(4.3		)	—
Transition tax on foreign earnings	—			7.9			—
Non-deductible compensation	8.1			—			—
Other differences	3.0			4.0			(0.8		)
Income tax expense (benefit)	$	(6.2	)	$	(2.2	)	$	(16.9	)

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the change in unrecognized tax benefits for 2018, 2017 and 2016 is presented below:

	2018			2017			2016
Balance at beginning of year	$	89.4		$	124.2		$	130.3
Decreases for prior year tax positions	(2.2		)	(0.5		)	(4.5		)
Increases (decreases) for current year tax positions	—			0.3			(1.6		)
Increases (decreases) related to tax rate changes (a)	—			(34.6		)	—
Balance at end of year	$	87.2		$	89.4		$	124.2

(a)

As a result of the Tax Act, the value of unrecognized tax benefits associated with NOL carryforwards and other temporary differences was reduced to reflect the lower tax rates that will apply if the uncertainties related to these deferred tax assets materialize in the future.