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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2017
Income Tax Disclosure [Abstract] |
Pre-tax Income Attributable to Operating Segments | The following sets forth the amount of income before income taxes attributable to each of the Company’s geographies for the years ended December 31, 2017, 2016 and 2015:
| Year Ended December 31,
(in millions) | 2017 |  | 2016 |  | 2015
Income before income taxes: |  |  |  |  |
United States | $ | 97.2 |  |  | $ | 179.0 |  |  | $ | 120.2 |
Rest of the world | 91.2 |  |  | 92.8 |  |  | 70.9 |
| $ | 188.4 |  |  | $ | 271.8 |  |  | $ | 191.1 |
Reconciliation of Statutory Tax Rate to Effective Tax Rate | The Company’s effective income tax provision differs from the amount calculated using the statutory U.S. federal income tax rate, principally due to the following:
| Year Ended December 31,
| 2017 |  | 2016 |  | 2015
(dollars in millions) | Amount |  | Percentage of Income Before Income Taxes |  | Amount |  | Percentage of Income Before Income Taxes |  | Amount |  | Percentage of Income Before Income Taxes
Statutory U.S. federal income tax | $ | 65.9 |  |  | 35.0 | % |  | $ | 95.1 |  |  | 35.0 | % |  | $ | 66.9 |  |  | 35.0 | %
State income taxes, net of federal benefit | (0.6 | ) |  | (0.3 | )% |  | 8.0 |  |  | 2.9 | % |  | 1.1 |  |  | 0.6 | %
Foreign repatriation, net of foreign tax credits | — |  |  | — |  |  | (4.3 | ) |  | (1.6 | )% |  | — |  |  | — |
Foreign tax differential | (11.6 | ) |  | (6.1 | )% |  | (11.9 | ) |  | (4.4 | )% |  | (10.0 | ) |  | (5.2 | )%
Change in valuation allowances | 8.3 |  |  | 4.4 | % |  | 20.2 |  |  | 7.4 | % |  | 2.5 |  |  | 1.3 | %
Uncertain tax positions | 0.2 |  |  | 0.0 | % |  | (27.1 | ) |  | (9.9 | )% |  | 59.7 |  |  | 31.2 | %
Subpart F income | 2.7 |  |  | 1.4 | % |  | 2.0 |  |  | 0.7 | % |  | 1.9 |  |  | 1.0 | %
Manufacturing deduction | (1.9 | ) |  | (1.0 | )% |  | (4.2 | ) |  | (1.5 | )% |  | (1.6 | ) |  | (0.8 | )%
Remeasurement of deferred taxes | (69.7 | ) |  | (37.0 | )% |  | — |  |  | — |  |  | — |  |  | — |
Transition Tax | 45.9 |  |  | 24.4 | % |  | — |  |  | — |  |  | — |  |  | — |
Permanent and other | 8.5 |  |  | 4.5 | % |  | 9.0 |  |  | 3.3 | % |  | 4.9 |  |  | 2.5 | %
Effective income tax provision | $ | 47.7 |  |  | 25.3 | % |  | $ | 86.8 |  |  | 31.9 | % |  | $ | 125.4 |  |  | 65.6 | %
Tax Provision Summary | The income tax provision consisted of the following:
| Year Ended December 31,
(in millions) | 2017 |  | 2016 |  | 2015
Current provision |  |  |  |  |
Federal | $ | 73.5 |  |  | $ | 73.5 |  |  | $ | 107.1 |
State | 3.1 |  |  | 4.5 |  |  | 7.2 |
Foreign | 31.3 |  |  | 39.9 |  |  | 32.4 |
Total current | $ | 107.9 |  |  | $ | 117.9 |  |  | $ | 146.7 |
Deferred provision |  |  |  |  |
Federal | $ | (67.7 | ) |  | $ | (21.4 | ) |  | $ | (12.3 | )
State | 7.5 |  |  | 1.6 |  |  | (3.7 | )
Foreign | — |  |  | (11.3 | ) |  | (5.3 | )
Total deferred | (60.2 | ) |  | (31.1 | ) |  | (21.3 | )
Total income tax provision | $ | 47.7 |  |  | $ | 86.8 |  |  | $ | 125.4 |
Deferred Tax Assets and Liabilities Recognized in the Consolidated Balance Sheets | The net deferred tax assets and liabilities recognized in the accompanying Consolidated Balance Sheets, determined using the income tax rate applicable to each period, consist of the following:
| December 31,
(in millions) | 2017 |  | 2016
Deferred tax assets: |  |  |
Stock-based compensation | $ | 10.6 |  |  | $ | 18.4 |
Accrued expenses and other | 36.3 |  |  | 49.9 |
Net operating losses, foreign tax credits and other tax attribute carryforwards | 92.9 |  |  | 98.5 |
Inventories | 6.2 |  |  | 7.2 |
Transaction costs | 13.4 |  |  | 10.2 |
Property, plant and equipment | 2.8 |  |  | 3.4 |
Total deferred tax assets | 162.2 |  |  | 187.6 |
Valuation allowances | (55.1 | ) |  | (45.2 | )
Total net deferred tax assets | $ | 107.1 |  |  | $ | 142.4 |
Deferred tax liabilities: |  |  |
Intangible assets | $ | (161.9 | ) |  | $ | (242.4 | )
Property, plant and equipment | (29.5 | ) |  | (42.4 | )
Accrued expenses and other | (6.4 | ) |  | (9.7 | )
Total deferred tax liabilities | (197.8 | ) |  | (294.5 | )
Net deferred tax liabilities | $ | (90.7 | ) |  | $ | (152.1 | )
Operating Loss and Tax Credit Carryforwards | The Company has the following gross income tax attributes available at December 31, 2017 and 2016, respectively:
(in millions) | 2017 |  | 2016
State net operating losses (“SNOLs”) | $ | 133.9 |  |  | $ | 131.2 |
U.S. federal foreign tax credits (“FTCs”) | 12.2 |  |  | 12.2 |
U.S. state income tax credits ("SITCs") | 8.1 |  |  | 4.0 |
Foreign net operating losses (“FNOLs”) | 33.1 |  |  | 34.1 |
Charitable contribution carryover ("CCCs") | 18.0 |  |  | 38.4 |
Reconciliation of 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, 2015 | $ | 69.8 |
Additions based on tax positions related to 2016 | 2.5 |
Additions for tax positions of prior years | 29.2 |
Expiration of statutes of limitations | (5.0 | )
Settlements of uncertain tax positions with tax authorities | (24.8 | )
Balance as of December 31, 2016 | $ | 71.7 |
Additions based on tax positions related to 2017 | 3.9 |
Additions for tax positions of prior years | 11.4 |
Expiration of statutes of limitations | — |
Settlements of uncertain tax positions with tax authorities | (2.5 | )
Balance as of December 31, 2017 | $ | 84.5 |

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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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