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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2018
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, 2018, 2017 and 2016:
| Year Ended December 31,
(in millions) | 2018 |  | 2017 |  | 2016
Income before income taxes: |  |  |  |  |
United States | $ | 59.2 |  |  | $ | 97.2 |  |  | $ | 179.0 |
Rest of the world | 105.8 |  |  | 118.2 |  |  | 104.6 |
| $ | 165.0 |  |  | $ | 215.4 |  |  | $ | 283.6 |
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,
| 2018 |  | 2017 |  | 2016
(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 | $ | 34.6 |  |  | 21.0 | % |  | $ | 75.4 |  |  | 35.0 | % |  | $ | 99.3 |  |  | 35.0 | %
State income taxes, net of federal benefit | 1.8 |  |  | 1.1 | % |  | (0.6 | ) |  | (0.3 | )% |  | 8.0 |  |  | 2.8 | %
Foreign repatriation, net of foreign tax credits | — |  |  | — |  |  | — |  |  | — |  |  | (4.3 | ) |  | (1.5 | )%
Foreign tax differential | 2.5 |  |  | 1.5 | % |  | (11.9 | ) |  | (5.5 | )% |  | (12.0 | ) |  | (4.2 | )%
Change in valuation allowances | (17.7 | ) |  | (10.7 | )% |  | 5.6 |  |  | 2.6 | % |  | 19.4 |  |  | 6.8 | %
Uncertain tax positions | 33.1 |  |  | 20.1 | % |  | (1.0 | ) |  | (0.5 | )% |  | (27.1 | ) |  | (9.6 | )%
Subpart F income | 6.6 |  |  | 4.0 | % |  | 2.7 |  |  | 1.2 | % |  | 2.0 |  |  | 0.7 | %
Manufacturing deduction | — |  |  | — |  |  | (1.9 | ) |  | (0.9 | )% |  | (4.2 | ) |  | (1.5 | )%
Remeasurement of deferred taxes | — |  |  | — |  |  | (69.7 | ) |  | (32.3 | )% |  | — |  |  | — |
Transition Tax | (6.8 | ) |  | (4.1 | )% |  | 45.9 |  |  | 21.3 | % |  | — |  |  | — |
Permanent and other | (4.5 | ) |  | (2.8 | )% |  | (0.7 | ) |  | (0.3 | )% |  | 5.2 |  |  | 1.9 | %
Effective income tax provision | $ | 49.6 |  |  | 30.1 | % |  | $ | 43.8 |  |  | 20.3 | % |  | $ | 86.3 |  |  | 30.4 | %
Tax Provision Summary | The income tax provision consisted of the following:
| Year Ended December 31,
(in millions) | 2018 |  | 2017 |  | 2016
Current provision |  |  |  |  |
Federal | $ | (14.6 | ) |  | $ | 73.5 |  |  | $ | 73.5 |
State | 1.1 |  |  | 3.1 |  |  | 4.6 |
Foreign | 57.1 |  |  | 28.3 |  |  | 39.3 |
Total current | $ | 43.6 |  |  | $ | 104.9 |  |  | $ | 117.4 |
Deferred provision |  |  |  |  |
Federal | $ | 11.4 |  |  | $ | (67.7 | ) |  | $ | (21.4 | )
State | (4.5 | ) |  | 7.6 |  |  | 1.6 |
Foreign | (0.9 | ) |  | (1.0 | ) |  | (11.3 | )
Total deferred | 6.0 |  |  | (61.1 | ) |  | (31.1 | )
Total income tax provision | $ | 49.6 |  |  | $ | 43.8 |  |  | $ | 86.3 |
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) | 2018 |  | 2017
Deferred tax assets: |  |  |
Stock-based compensation | $ | 12.8 |  |  | $ | 10.6 |
Accrued expenses and other | 49.1 |  |  | 36.3 |
Net operating losses, foreign tax credits and other tax attribute carryforwards | 56.1 |  |  | 92.9 |
Inventories | 6.0 |  |  | 6.2 |
Transaction costs | 13.5 |  |  | 13.4 |
Property, plant and equipment | 3.6 |  |  | 2.8 |
Total deferred tax assets | 141.1 |  |  | 162.2 |
Valuation allowances | (43.1 | ) |  | (55.1 | )
Total net deferred tax assets | $ | 98.0 |  |  | $ | 107.1 |
Deferred tax liabilities: |  |  |
Intangible assets | $ | (156.8 | ) |  | $ | (162.1 | )
Property, plant and equipment | (30.3 | ) |  | (29.5 | )
Accrued expenses and other | (5.8 | ) |  | (6.4 | )
Total deferred tax liabilities | (192.9 | ) |  | (198.0 | )
Net deferred tax liabilities | $ | (94.9 | ) |  | $ | (90.9 | )
Operating Loss and Tax Credit Carryforwards | The Company has the following gross income tax attributes available at December 31, 2018 and 2017, respectively:
(in millions) | 2018 |  | 2017
State net operating losses (“SNOLs”) | $ | 355.7 |  |  | $ | 133.9 |
U.S. federal foreign tax credits (“FTCs”) | 12.2 |  |  | 12.2 |
U.S. state income tax credits ("SITCs") | 8.0 |  |  | 8.1 |
Foreign net operating losses (“FNOLs”) | 57.0 |  |  | 33.1 |
Charitable contribution carryover ("CCCs") | 39.6 |  |  | 18.0 |
Interest limitation carryover ("ILC") | 10.6 |  |  | — |
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, 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 |
Additions based on tax positions related to 2018 | 2.5 |
Additions for tax positions of prior years | 21.2 |
Expiration of statutes of limitations | — |
Settlements of uncertain tax positions with tax authorities | (4.4 | )
Balance as of December 31, 2018 | $ | 103.8 |

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