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v3.20.4

Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2020
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | The components of income (loss) before income taxes are as follows:
| 2020 |  | 2019 |  | 2018
| (in millions)
U.S. loss | $ | (721.6) |  |  | $ | (889.0) |  |  | $ | (549.4) |
Non - U.S. income | 111.3 |  |  | 356.0 |  |  | 435.5 |
Total loss before income taxes | $ | (610.3) |  |  | $ | (533.0) |  |  | $ | (113.9) |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The following is a summary of the components of our provision for income taxes:
| 2020 |  | 2019 |  | 2018
| (in millions)
Current |  |  |  |  |
Federal | $ | 2.0 |  |  | $ | (11.9) |  |  | $ | (81.5) |
State and local | 0.5 |  |  | 0.1 |  |  | 3.2 |
Foreign | 20.2 |  |  | 49.3 |  |  | 46.5 |
Total current | $ | 22.7 |  |  | $ | 37.5 |  |  | $ | (31.8) |
Deferred |  |  |  |  |
Federal | $ | (60.0) |  |  | $ | (73.5) |  |  | $ | (5.1) |
State and local | (0.7) |  |  | (1.5) |  |  | (6.7) |
Foreign | (11.2) |  |  | (11.4) |  |  | (13.5) |
Total deferred | (71.9) |  |  | (86.4) |  |  | (25.3) |
Total income tax benefit | $ | (49.2) |  |  | $ | (48.9) |  |  | $ | (57.1) |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The following is a reconciliation of income taxes calculated at the U.S. federal statutory income tax rate of 21% in 2020, 2019 and 2018 to our provision for income taxes:
| 2020 |  | 2019 |  | 2018
| (in millions)
Federal statutory | $ | (128.2) |  |  | $ | (111.9) |  |  | $ | (23.9) |
Foreign income taxes | (21.5) |  |  | (40.2) |  |  | (39.7) |
Change in enacted tax rate | 2.1 |  |  | 0.2 |  |  | (8.3) |
Transition tax | — |  |  | (7.5) |  |  | 5.8 |
State and local | (5.0) |  |  | (20.0) |  |  | (12.8) |
Tax credits | (9.7) |  |  | (9.6) |  |  | (20.1) |
Valuation allowance | 19.8 |  |  | 12.6 |  |  | 12.9 |
Goodwill impairment | 107.1 |  |  | 92.4 |  |  | 21.6 |
Withholding taxes | 5.6 |  |  | 4.0 |  |  | 6.6 |
U.S. tax on unremitted foreign earnings | — |  |  | (2.8) |  |  | 4.1 |
Tax benefit on loss carryback | (14.4) |  |  | — |  |  | — |
Global intangible low-taxed income | 2.3 |  |  | 31.1 |  |  | 8.0 |
Uncertain tax positions | (8.8) |  |  | 5.9 |  |  | (9.8) |
Other | 1.5 |  |  | (3.1) |  |  | (1.5) |
Effective income tax benefit | $ | (49.2) |  |  | $ | (48.9) |  |  | $ | (57.1) |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | The approximate tax effect of each significant type of temporary difference and carryforward that results in a deferred tax asset or liability is as follows:
| December 31,
| 2020 |  | 2019
| (in millions)
Deferred tax assets |  |  |
Employee benefits | $ | 162.4 |  |  | $ | 149.4 |
Inventory | 32.9 |  |  | 27.3 |
Net operating loss (NOL) carryforwards | 221.4 |  |  | 201.7 |
Tax credit carryforwards | 88.6 |  |  | 47.8 |
Capital allowance carryforwards | 10.2 |  |  | 9.3 |
Capitalized expenditures | 45.9 |  |  | 42.9 |
Interest carryforward | 10.4 |  |  | 43.9 |
Operating lease liabilities | 25.7 |  |  | 27.1 |
Other | 50.6 |  |  | 42.7 |
Valuation allowances | (208.0) |  |  | (196.0) |
Deferred tax assets | $ | 440.1 |  |  | $ | 396.1 |
Deferred tax liabilities |  |  |
Other intangible assets | (179.9) |  |  | (199.7) |
Fixed assets | (137.5) |  |  | (120.7) |
Operating lease right-of-use assets | (25.6) |  |  | (27.1) |
Other | (2.5) |  |  | (4.1) |
Deferred tax liabilities | $ | (345.5) |  |  | $ | (351.6) |
Deferred tax assets, net | $ | 94.6 |  |  | $ | 44.5 |
Deferred tax assets and liabilities recognized in our Consolidated Balance Sheets are as follows:
| December 31,
| 2020 |  | 2019
| (in millions)
U.S. federal and state deferred tax asset, net | $ | 44.1 |  |  | $ | 5.0 |
Other foreign deferred tax asset, net | 50.5 |  |  | 39.5 |
Deferred tax asset, net | $ | 94.6 |  |  | $ | 44.5 |
Schedule of Unrecognized Income Tax Benefits [Table Text Block] | A reconciliation of the beginning and ending amounts of unrecognized income tax benefits is as follows:
| Unrecognized Income Tax |  | Interest and
| Benefits |  | Penalties
| (in millions)
Balance at January 1, 2018 | $ | 47.7 |  |  | $ | 7.5 |
Increase in prior year tax positions | 5.6 |  |  | 3.5 |
Decrease in prior year tax positions | (16.9) |  |  | (2.5) |
Increase in current year tax positions | 6.0 |  |  | — |
Settlement | (3.7) |  |  | (1.6) |
Balance at December 31, 2018 | $ | 38.7 |  |  | $ | 6.9 |
Increase in prior year tax positions | 0.2 |  |  | 4.5 |
Decrease in prior year tax positions | (3.1) |  |  | (0.1) |
Increase in current year tax positions | 4.4 |  |  | — |
Foreign currency remeasurement adjustment | 0.9 |  |  | 0.2 |
Balance at December 31, 2019 | $ | 41.1 |  |  | $ | 11.5 |
Increase in prior year tax positions | 0.2 |  |  | — |
Decrease in prior year tax positions | (6.6) |  |  | (1.7) |
Increase in current year tax positions | 0.7 |  |  | — |
Settlement | (12.2) |  |  | (6.3) |
Foreign currency remeasurement adjustment | (3.0) |  |  | (1.5) |
Balance at December 31, 2020 | $ | 20.2 |  |  | $ | 2.0 |

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- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319 + Details
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