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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Income (Loss) Before Income Taxes And Minority Interests

The Company's geographic sources of income before income taxes and non-controlling interest are as follows (in millions):

	Year ended December 31,
	2016				2015				2014
United States	$	(287.0	)		$	(102.7	)		$	(56.2	)
Foreign	467.6				322.5				248.1
	$	180.6			$	219.8			$	191.9

Provision (Benefit) For Income Taxes

The Company's provision for income taxes is as follows (in millions):

	Year ended December 31,
	2016				2015				2014
Current:
Federal	$	(0.1	)		$	—			$	(1.5	)
State and local	0.1				2.0				—
Foreign	34.4				21.3				20.1
	34.4				23.3				18.6
Deferred:
Federal	60.8				0.4				(17.1		)
State and local	—				(1.4		)		(2.9		)
Foreign	(99.1		)		(11.5		)		1.2
	(38.3		)		(12.5		)		(18.8		)
Total provision (benefit)	$	(3.9	)		$	10.8			$	(0.2	)

Reconciliation Of The U.S. Federal Statutory Income Tax Rate

A reconciliation of the U.S. federal statutory income tax rate to the Company's effective income tax rate is as follows:

		Year ended December 31,
		2016			2015			2014
U.S. federal statutory rate		35.0	%		35.0	%		35.0	%
Increase (decrease) resulting from:
State and local taxes, net of federal tax benefit		(3.6	)		(1.0	)		(0.5	)
Impact of foreign operations		(8.1	)		(39.8	)		(33.9	)
Reversal of prior years’ indefinite reinvestment assertion		172.1			—			—
Dividend income from foreign subsidiaries		0.2			85.5			13
Change in valuation allowance and related effects		(190.7	)		(75.3	)		(17.8	)
Nondeductible acquisition costs		1.9			0.1			0.9
Nondeductible share-based compensation costs		0.7			0.9			2.1
Deferred tax liability for assets with indefinite useful lives		—			(0.5	)		1.7
US federal R&D credit		(10.1	)		—			—
Return to accrual		(0.5	)		(0.9	)		(0.5	)
Other		0.9			0.9			(0.1	)
Total		(2.2	)%		4.9	%		(0.1	)%

Tax Effects Of Temporary Differences

The tax effects of temporary differences in the recognition of income and expense for tax and financial reporting purposes that give rise to significant portions of the deferred tax assets, net of deferred tax liabilities, as of December 31, 2016 and December 31, 2015, are as follows (in millions):

		Year ended December 31,
		2016				2015
Net operating loss and tax credit carryforwards		$	978.1			$	692.0
Tax-deductible goodwill and amortizable intangibles		(57.1		)		(35.9		)
Reserves and accruals		51.7				25.2
Property, plant and equipment		(60.9		)		21.3
Inventories		42.1				26.3
Undistributed earnings of foreign subsidiaries		(639.1		)		—
Share-based compensation		14.3				14.0
Pension		21.5				17.9
Debt financing costs		(40.8		)		—
Other		14.3				2.1
Deferred tax assets and liabilities before valuation allowance		324.1				762.9
Valuation allowance		(474.1		)		(735.7		)
Net deferred tax asset (liability)		$	(150.0	)		$	27.2

Activity For Unrecognized Gross Tax Benefits

The activity for unrecognized gross tax benefits for 2016, 2015, and 2014 is as follows (in millions):

	2016				2015				2014
Balance at beginning of year	$	33.5			$	31.2			$	20.9
Acquired balances	86.9				—				—
Additions based on tax positions related to the current year	4.6				9.2				9.0
Additions for tax positions of prior years	13.7				3.4				5.3
Reductions for tax positions of prior years	(0.4		)		(6.9		)		(0.6		)
Lapse of statute	(1.6		)		(3.3		)		(3.4		)
Settlements	—				(0.1		)		—
Balance at end of year	$	136.7			$	33.5			$	31.2

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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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.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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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.

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