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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2016
Income Tax Disclosure [Abstract] |
Components of income tax provision (benefits) from continuing operations | Our Provision for income taxes from continuing operations consisted of the following (in millions):
| For the Years Ended December 31,
| 2016 |  | 2015 |  | 2014
Current: |  |  |  |  |
Federal | $ | 106.0 |  |  | $ | 101.0 |  |  | $ | 84.3 |
State | 14.5 |  |  | 13.1 |  |  | 10.1 |
Foreign | 9.7 |  |  | 3.6 |  |  | 9.6 |
Total current | 130.2 |  |  | 117.7 |  |  | 104.0 |
Deferred: |  |  |  |  |
Federal | (4.5 | ) |  | (21.4 | ) |  | 2.3 |
State | (1.2 | ) |  | (0.6 | ) |  | 1.0 |
Foreign | (0.4 | ) |  | (0.3 | ) |  | 2.2 |
Total deferred | (6.1 | ) |  | (22.3 | ) |  | 5.5 |
Total provision for income taxes | $ | 124.1 |  |  | $ | 95.4 |  |  | $ | 109.5 |
The components of Interest expense, net in our Consolidated Statements of Operations were as follows (in millions):
| For the Years Ended December 31,
| 2016 |  | 2015 |  | 2014
Interest expense, net of capitalized interest | $ | 28.1 |  |  | $ | 25.2 |  |  | $ | 18.9 |
Interest income | 1.1 |  |  | 1.6 |  |  | 1.7 |
Interest expense, net | $ | 27.0 |  |  | $ | 23.6 |  |  | $ | 17.2 |
Income from continuing operations before income taxes | Income from continuing operations before income taxes was comprised of the following (in millions):
| For the Years Ended December 31,
| 2016 |  | 2015 |  | 2014
Domestic | $ | 374.8 |  |  | $ | 276.7 |  |  | $ | 283.7 |
Foreign | 27.9 |  |  | 5.9 |  |  | 33.9 |
Total | $ | 402.7 |  |  | $ | 282.6 |  |  | $ | 317.6 |
Summary of difference between the income tax provision from continuing operations computed at the statutory federal income tax rate and the financial statement provision for taxes | The difference between the income tax provision from continuing operations computed at the statutory federal income tax rate and the financial statement Provision for income taxes is summarized as follows (in millions):
| For the Years Ended December 31,
| 2016 |  | 2015 |  | 2014
Provision at the U.S. statutory rate of 35% | $ | 141.0 |  |  | $ | 98.9 |  |  | $ | 111.2 |
Increase (reduction) in tax expense resulting from: |  |  |  |  |
State income tax, net of federal income tax benefit | 12.8 |  |  | 8.0 |  |  | 8.8 |
Other permanent items | 4.2 |  |  | (9.1 | ) |  | (8.2 | )
Tax credits, net of unrecognized tax benefits | (27.9 | ) |  | (0.7 | ) |  | — |
Change in unrecognized tax benefits | (0.3 | ) |  | (0.9 | ) |  | 0.2 |
Change in valuation allowance | (4.3 | ) |  | (0.6 | ) |  | 0.2 |
Foreign taxes at rates other than 35% and miscellaneous other | (1.4 | ) |  | (0.2 | ) |  | (2.7 | )
Total provision for income taxes | $ | 124.1 |  |  | $ | 95.4 |  |  | $ | 109.5 |
Summary of deferred tax assets (liabilities) | Deferred tax assets (liabilities) were comprised of the following (in millions):
| As of December 31,
| 2016 |  | 2015
Gross deferred tax assets: |  |  |
Warranties | $ | 36.3 |  |  | $ | 33.7 |
Loss carryforwards (foreign, U.S. and state) | 19.8 |  |  | 20.0 |
Post-retirement and pension benefits | 33.9 |  |  | 47.7 |
Inventory reserves | 9.6 |  |  | 9.0 |
Receivables allowance | 4.5 |  |  | 4.1 |
Compensation liabilities | 20.6 |  |  | 19.3 |
Deferred income | 1.5 |  |  | 1.6 |
Insurance liabilities | 6.5 |  |  | 6.3 |
Legal reserves | 12.0 |  |  | 10.9 |
Hedges | — |  |  | 5.3 |
State credits, net of federal effect | 18.4 |  |  | 8.3 |
Other | 5.4 |  |  | 7.1 |
Total deferred tax assets | 168.5 |  |  | 173.3 |
Valuation allowance | (17.1 | ) |  | (19.9 | )
Total deferred tax assets, net of valuation allowance | 151.4 |  |  | 153.4 |
Gross deferred tax liabilities: |  |  |
Depreciation | (3.3 | ) |  | (2.5 | )
Hedges | (3.2 | ) |  | — |
Intangibles | (4.9 | ) |  | (2.2 | )
Other | (3.3 | ) |  | (3.0 | )
Total deferred tax liabilities | (14.7 | ) |  | (7.7 | )
Net deferred tax assets | $ | 136.7 |  |  | $ | 145.7 |
Summary of reconciliation of the beginning and ending amount of unrecognized tax benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in millions):
Balance as of December 31, 2014 | $ | 1.6 |
Increases related to prior year tax positions | 0.5 |
Decreases related to prior year tax positions | (1.2 | )
Increases related to current year tax positions | — |
Settlement | (0.4 | )
Balance as of December 31, 2015 | 0.5 |
Increases related to prior year tax positions | 1.0 |
Decreases related to prior year tax positions | — |
Increases related to current year tax positions | 1.4 |
Settlement | (0.5 | )
Balance as of December 31, 2016 | $ | 2.4 |

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- Definition 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319 + Details
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