Recoverable Non-income Taxes

6 Months Ended

Jun. 30, 2012

Recoverable Non-income Taxes [Abstract]

Recoverable Non-income Taxes

NOTE 6. Recoverable Non-income Taxes

We pay various value-added taxes in jurisdictions outside of the United States. These include taxes levied on material purchases, fixed asset purchases, and various social taxes. The majority of these taxes are creditable when goods are sold to customers domestically or against income taxes due. Since the taxes are recoverable upon completion of these procedures, they are recorded as assets upon payment of the taxes.

Historically, such taxes were typically credited against income taxes. However, with reduced profitability, primarily in Brazil, we instead sought these refunds via alternate proceedings.

Following is a summary of the recoverable non-income taxes recorded on our balance sheet at June 30, 2012 and December 31, 2011:

(In Millions)	June 30, 2012		December 31, 2011
Brazil	$	32.1	$	35.8
India		7.7		8.0
Europe		1.0		0.7
Total recoverable non-income taxes	$	40.8	$	44.5

At June 30, 2012, a receivable of $21.9 million was included in current assets and $18.9 million was included in non-current assets and is expected to be recovered through 2014. The actual amounts received as expressed in U.S. dollars will vary depending on the exchange rate at the time of receipt or future reporting date.