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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2017
Income Taxes |
Schedule of income before income taxes |
|  | Year Ended December 31, |
|  | 2017 |  | 2016 |  | 2015 |
Income before income taxes: |  |  |  |  |  |  |  |  |  |
United States |  | $ | 153.0 |  | $ | 87.7 |  | $ | 134.4 |
Foreign |  |  | 1,199.4 |  |  | 1,053.4 |  |  | 918.4 |
|  | $ | 1,352.4 |  | $ | 1,141.1 |  | $ | 1,052.8 |
Current tax provision: |  |  |  |  |  |  |  |  |  |
United States |  | $ | 200.0 |  | $ | 74.6 |  | $ | 39.5 |
Foreign |  |  | 305.4 |  |  | 263.8 |  |  | 228.1 |
|  |  | 505.4 |  |  | 338.4 |  |  | 267.6 |
Deferred tax provision (benefit): |  |  |  |  |  |  |  |  |  |
United States |  |  | 51.0 |  |  | (32.3) |  |  | 13.3 |
Foreign |  |  | 135.3 |  |  | 2.4 |  |  | (0.4) |
|  |  | 186.3 |  |  | (29.9) |  |  | 12.9 |
Total provision for income taxes |  | $ | 691.7 |  | $ | 308.5 |  | $ | 280.5 |
Schedule of provision for income taxes |
|  | Year Ended December 31, |
|  | 2017 |  | 2016 |  | 2015 |
Income before income taxes: |  |  |  |  |  |  |  |  |  |
United States |  | $ | 153.0 |  | $ | 87.7 |  | $ | 134.4 |
Foreign |  |  | 1,199.4 |  |  | 1,053.4 |  |  | 918.4 |
|  | $ | 1,352.4 |  | $ | 1,141.1 |  | $ | 1,052.8 |
Current tax provision: |  |  |  |  |  |  |  |  |  |
United States |  | $ | 200.0 |  | $ | 74.6 |  | $ | 39.5 |
Foreign |  |  | 305.4 |  |  | 263.8 |  |  | 228.1 |
|  |  | 505.4 |  |  | 338.4 |  |  | 267.6 |
Deferred tax provision (benefit): |  |  |  |  |  |  |  |  |  |
United States |  |  | 51.0 |  |  | (32.3) |  |  | 13.3 |
Foreign |  |  | 135.3 |  |  | 2.4 |  |  | (0.4) |
|  |  | 186.3 |  |  | (29.9) |  |  | 12.9 |
Total provision for income taxes |  | $ | 691.7 |  | $ | 308.5 |  | $ | 280.5 |
Schedule of differences between the U.S. statutory federal tax rate and the Company's effective income tax rate |
|  | Year Ended December 31, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
U.S. statutory federal tax rate |  | 35.0 | % |  | 35.0 | % |  | 35.0 | %
State and local taxes |  | 0.2 |  |  | 0.1 |  |  | 0.1 |
Foreign earnings and dividends taxed at different rates |  | (9.1) |  |  | (9.7) |  |  | (8.8) |
Valuation allowance |  | 0.1 |  |  | 0.7 |  |  | 0.3 |
Tax Act - transition tax |  | 19.2 |  |  | — |  |  | — |
Tax Act - remeasurement of deferred tax liabilities, net |  | (2.8) |  |  | — |  |  | — |
Tax Act - change in indefinite reinvestment assertion |  | 13.1 |  |  | — |  |  | — |
Excess tax benefits related to stock-based compensation |  | (4.9) |  |  | — |  |  | — |
Impact of acquisition-related expenses |  | — |  |  | 0.5 |  |  | 0.1 |
Other, net |  | 0.3 |  |  | 0.4 |  |  | (0.1) |
Effective tax rate |  | 51.1 | % |  | 27.0 | % |  | 26.6 | %
Schedule of deferred tax assets and liabilities |
|  | December 31,
|  | 2017 |  | 2016
Deferred tax assets relating to: |  |  |  |  |  |
Accrued liabilities and reserves |  | $ | 31.7 |  | $ | 36.8
Operating loss and tax credit carryforwards |  |  | 84.2 |  |  | 58.8
Pensions |  |  | 27.8 |  |  | 64.7
Inventories |  |  | 35.1 |  |  | 45.3
Employee benefits |  |  | 29.8 |  |  | 43.4
Total deferred tax assets |  |  | 208.6 |  |  | 249.0
Valuation allowance |  |  | (39.6) |  |  | (37.2)
Total deferred tax assets, net of valuation allowances |  |  | 169.0 |  |  | 211.8
Deferred tax liabilities relating to: |  |  |  |  |  |
Goodwill |  |  | 135.5 |  |  | 185.9
Depreciation and amortization |  |  | 61.8 |  |  | 67.6
Unremitted foreign earnings |  |  | 176.6 |  |  | —
Contingent consideration |  |  | 4.3 |  |  | 6.6
Total deferred tax liabilities |  |  | 378.2 |  |  | 260.1
Net deferred tax liability |  | $ | 209.2 |  | $ | 48.3
Classification of deferred tax assets and liabilities, as reflected on the Consolidated Balance Sheets: |  |  |  |  |  |
Intangibles, net and other long-term assets |  | $ | 32.0 |  | $ | 29.4
Deferred income taxes |  |  | 241.2 |  |  | 77.7
Net deferred tax liability, long-term |  | $ | 209.2 |  | $ | 48.3
Schedule of reconciliation of gross amounts of unrecognized tax benefits excluding interest and penalties |
|  | 2017 |  | 2016 |  | 2015 |
Unrecognized tax benefits as of January 1 |  | $ | 106.2 |  | $ | 29.8 |  | $ | 27.7 |
Gross increases for tax positions in prior periods |  |  | 32.7 |  |  | 81.9 |  |  | 0.3 |
Gross increases for tax positions in current period |  |  | 2.4 |  |  | 7.0 |  |  | 2.1 |
Settlements |  |  | (11.0) |  |  | (10.8) |  |  | — |
Lapse of statute of limitations |  |  | (3.0) |  |  | (1.7) |  |  | (0.3) |
Unrecognized tax benefits as of December 31 |  | $ | 127.3 |  | $ | 106.2 |  | $ | 29.8 |

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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
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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://www.xbrl.org/2003/role/presentationRef -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://www.xbrl.org/2003/role/presentationRef -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://www.xbrl.org/2003/role/presentationRef -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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