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Income Taxes - Deferred Income Tax Assets and Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2016
Dec. 31, 2015
Deferred tax assets:    
Accrued liabilities $ 18.1 $ 18.3
Employee benefits and compensation 45.9 32.5
Inventories 9.9 3.9
Net operating loss carryforwards 67.4 73.2
Stock options and restricted stock 11.7 10.7
Pension and postretirement benefits 136.5 148.2
Derivatives 11.5 13.7
Capital loss, general business, foreign, and AMT credit carryforwards 5.3 5.2
Gross deferred tax assets 306.3 305.7
Valuation allowance [1] (5.2) (5.1)
Net deferred tax assets 301.1 300.6
Deferred tax liabilities:    
Property, plant, and equipment (537.0) (545.8)
Goodwill and intangible assets (98.8) (101.8)
Total deferred tax liabilities (635.8) (647.6)
Net deferred tax liabilities [2] $ (334.7) $ (347.0)
[1] Deferred tax assets are reduced by a valuation allowance when it is more likely than not that some portion of the deferred tax assets will not be realized. Both the 2016 and 2015 valuation allowance relates to capital losses. We do not expect to generate capital gains before the capital losses expire. If or when recognized, the tax benefits relating to the reversal of any or all of the valuation allowance would be recognized as a benefit to income tax expense.
[2] As of December 31, 2016, we did not recognize U.S. deferred income taxes on our cumulative total of undistributed foreign earnings for our foreign subsidiaries. We indefinitely reinvest our earnings in operations outside the United States. It is not practicable to determine the amount of unrecognized deferred tax liability on these undistributed earnings because the actual tax liability, if any, is dependent on circumstances existing when the repatriation occurs.