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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule Of Income Before Taxes | Income before taxes and the provision (benefit) for taxes consisted of the following:
| 2021 |  | 2020 |  | 2019
(In millions) |  |  |  |  |
Income before taxes: |  |  |  |  |
United States | $ | 144.0 |  |  | $ | 24.7 |  |  | $ | 43.0 |
Foreign | 430.6 |  |  | 370.3 |  |  | 301.8 |
Total | $ | 574.6 |  |  | $ | 395.0 |  |  | $ | 344.8 |
Provision (benefit) for taxes: |  |  |  |  |
U.S. Federal: |  |  |  |  |
Current | $ | 27.1 |  |  | $ | (5.8) |  |  | $ | (3.8) |
Deferred | (22.9) |  |  | (16.3) |  |  | 252.3 |
| 4.2 |  |  | (22.1) |  |  | 248.5 |
U.S. State: |  |  |  |  |
Current | 5.6 |  |  | 0.8 |  |  | 5.1 |
Deferred | (2.5) |  |  | 7.1 |  |  | (0.7) |
| 3.1 |  |  | 7.9 |  |  | 4.4 |
Foreign: |  |  |  |  |
Current | 76.0 |  |  | 62.2 |  |  | 49.2 |
Deferred | (1.5) |  |  | (43.6) |  |  | (471.8) |
| 74.5 |  |  | 18.6 |  |  | (422.6) |
Income tax provision (benefit) | $ | 81.8 |  |  | $ | 4.4 |  |  | $ | (169.7) |
Effective tax rate | 14.2 | % |  | 1.1 | % |  | (49.2) | %
Schedule Of Provision For Taxes | Income before taxes and the provision (benefit) for taxes consisted of the following:
| 2021 |  | 2020 |  | 2019
(In millions) |  |  |  |  |
Income before taxes: |  |  |  |  |
United States | $ | 144.0 |  |  | $ | 24.7 |  |  | $ | 43.0 |
Foreign | 430.6 |  |  | 370.3 |  |  | 301.8 |
Total | $ | 574.6 |  |  | $ | 395.0 |  |  | $ | 344.8 |
Provision (benefit) for taxes: |  |  |  |  |
U.S. Federal: |  |  |  |  |
Current | $ | 27.1 |  |  | $ | (5.8) |  |  | $ | (3.8) |
Deferred | (22.9) |  |  | (16.3) |  |  | 252.3 |
| 4.2 |  |  | (22.1) |  |  | 248.5 |
U.S. State: |  |  |  |  |
Current | 5.6 |  |  | 0.8 |  |  | 5.1 |
Deferred | (2.5) |  |  | 7.1 |  |  | (0.7) |
| 3.1 |  |  | 7.9 |  |  | 4.4 |
Foreign: |  |  |  |  |
Current | 76.0 |  |  | 62.2 |  |  | 49.2 |
Deferred | (1.5) |  |  | (43.6) |  |  | (471.8) |
| 74.5 |  |  | 18.6 |  |  | (422.6) |
Income tax provision (benefit) | $ | 81.8 |  |  | $ | 4.4 |  |  | $ | (169.7) |
Effective tax rate | 14.2 | % |  | 1.1 | % |  | (49.2) | %
Schedule Of Difference Between The Tax Provision At The Statutory Federal Income Tax Rate And The Tax Provision As A Percentage Of Income Before Taxes (Effective Tax Rate) | The difference between the tax provision (benefit) at the statutory federal income tax rate and the tax provision (benefit) as a percentage of income before taxes (“effective tax rate”) was as follows:
| 2021 |  | 2020 |  | 2019
Statutory federal income tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Increase (reduction) in tax rate resulting from: |  |  |  |  |
Foreign income taxed at different rates | 0.5 | % |  | 1.7 | % |  | (7.3) | %
Change in valuation allowance | — | % |  | 2.0 | % |  | — | %
U.S. State income taxes | 1.1 | % |  | 0.5 | % |  | 1.5 | %
Stock-based compensation | 1.7 | % |  | 1.5 | % |  | 1.2 | %
Excess tax benefit related to stock-based compensation | (2.5) | % |  | (1.5) | % |  | (2.4) | %
Other U.S. taxes on foreign operations | (1.6) | % |  | (1.0) | % |  | 1.3 | %
U.S. Federal research and development credits | (2.1) | % |  | (2.3) | % |  | (2.8) | %
Tax reserve releases | (2.1) | % |  | (4.8) | % |  | (4.9) | %
Intellectual property restructuring and tax law changes | (2.5) | % |  | (16.2) | % |  | (59.8) | %
Other | 0.7 | % |  | 0.2 | % |  | 3.0 | %
Effective tax rate | 14.2 | % |  | 1.1 | % |  | (49.2) | %
Schedule Of Deferred Tax Assets And Liabilities | The significant components of deferred tax assets and liabilities were as follows:
At the End of Year | 2021 |  | 2020
(In millions) |  |  |
Deferred tax liabilities: |  |  |
Global intangible low-taxed income | $ | 207.6 |  |  | $ | 219.7 |
Purchased intangibles | 115.8 |  |  | 138.1 |
Operating lease right-of-use assets | 33.5 |  |  | 32.3 |
Other | 12.7 |  |  | 11.3 |
Total deferred tax liabilities | 369.6 |  |  | 401.4 |
Deferred tax assets: |  |  |
Depreciation and amortization | 474.9 |  |  | 497.1 |
Operating lease liabilities | 36.4 |  |  | 35.0 |
U.S. tax credit carryforwards | 25.8 |  |  | 32.8 |
Expenses not currently deductible | 43.7 |  |  | 32.3 |
Foreign net operating loss carryforwards | 18.0 |  |  | 16.8 |
Stock-based compensation | 13.9 |  |  | 10.6 |
U.S. net operating loss carryforwards | 5.8 |  |  | 7.4 |
Other | 35.7 |  |  | 20.6 |
Total deferred tax assets | 654.2 |  |  | 652.6 |
Valuation allowance | (45.7) |  |  | (41.3) |
Total deferred tax assets | 608.5 |  |  | 611.3 |
Total net deferred tax assets | $ | 238.9 |  |  | $ | 209.9 |
Reported as: |  |  |
Non-current deferred income tax assets | $ | 502.0 |  |  | $ | 510.2 |
Non-current deferred income tax liabilities | (263.1) |  |  | (300.3) |
Net deferred tax assets | $ | 238.9 |  |  | $ | 209.9 |
Schedule Of Reconciliation Of Unrecognized Tax Benefit | The total amount of the unrecognized tax benefits at the end of 2021 was $64.2 million. A reconciliation of gross unrecognized tax benefit was as follows:
| 2021 |  | 2020 |  | 2019
(In millions) |  |  |  |  |
Beginning balance | $ | 64.1 |  |  | $ | 71.6 |  |  | $ | 69.1 |
Increase related to current year tax positions | 9.6 |  |  | 8.0 |  |  | 12.6 |
(Decrease) increase related to prior years' tax positions | 1.3 |  |  | (0.4) |  |  | 3.8 |
Settlement with taxing authorities | (1.3) |  |  | (0.5) |  |  | (5.7) |
Lapse of statute of limitations | (9.5) |  |  | (14.6) |  |  | (8.2) |
Ending balance | $ | 64.2 |  |  | $ | 64.1 |  |  | $ | 71.6 |

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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=121826272&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=121826272&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=121826272&loc=d3e32840-109319 + Details
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