XML 51 R37.htm IDEA: XBRL DOCUMENT v3.10.0.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of income before tax from U.S. and non-U.S. operations

Geographic sources of income before income taxes consists of the following:

(in millions)		2018				2017				2016
Continuing operations:
U.S. domestic		$	352.2			$	356.5			$	288.2
Foreign		93.7				72.5				91.0
Income from continuing operations before income taxes		445.9				429.0				379.2
Discontinued operations:
U.S. domestic		299.8				39.1				29.7
Foreign		0.3				0.5				0.5
Income from discontinued operations before income taxes		300.1				39.6				30.2
Total income before income taxes		$	746.0			$	468.6			$	409.4

Summary of provision for income taxes from continuing operations

The provision for income taxes from continuing operations consists of the following:

(in millions)		2018				2017				2016
Current provision:
Federal and State		$	62.0			$	116.5			$	144.4
Foreign		25.9				28.4				29.2
Total current provision		87.9				144.9				173.6
Deferred provision (benefit):
Federal and State		7.9				(62.7		)		(16.0		)
Foreign		(8.5		)		6.2				(9.5		)
Total deferred (benefit) provision		(0.6		)		(56.5		)		(25.5		)
Total provision for income taxes		$	87.3			$	88.4			$	148.1

Schedule of reconciliation of taxes from continuing operations computed at the statutory rate to the tax provision

A reconciliation of the tax provision from continuing operations computed at the U.S. federal statutory rate to the actual tax provision follows:

(in millions)		2018				2017				2016
Taxes at U.S. statutory rate		$	93.6			$	150.1			$	132.8
State and local taxes, net of federal income tax benefit		10.8				9.5				7.5
Foreign earnings taxed at different rates		1.1				(6.7		)		(8.1		)
Change in unrecognized tax benefit		(7.8		)		0.9				(2.5		)
Benefit for domestic manufacturing deduction		—				(9.7		)		(12.1		)
Tax credits		(3.0		)		(2.3		)		(10.7		)
Tax impact of impairment of goodwill		—				—				41.2
Impact of U.S. tax reform		(3.3		)		(57.7		)		—
Change in investment assertion on foreign earnings		—				5.1				—
Other, net		(4.1		)		(0.8		)		—
Provision for income taxes		$	87.3			$	88.4			$	148.1
Effective income tax rate on continuing operations		19.6		%		20.6		%		39.1		%

Schedule of deferred tax assets (liabilities)

(in millions)		December 31, 2018				December 31, 2017
Deferred revenue		$	21.1			$	20.1
Warranty reserves		4.6				4.7
Inventory reserves		7.6				7.7
Allowance for doubtful accounts		2.5				3.1
Employee benefits		27.6				30.2
Foreign loss carryforwards		5.1				3.8
Federal tax credit carryovers		—				3.1
Deferred state tax attributes		11.9				11.9
Other, net		—				1.7
Gross deferred assets		80.4				86.3
Valuation allowances		(1.3		)		(4.3		)
Deferred tax assets after valuation allowances		79.1				82.0
Undistributed foreign earnings		(11.0		)		(7.9		)
Depreciation		(47.2		)		(36.7		)
Amortization		(43.7		)		(37.4		)
Carryover intangible basis of acquirees		(128.8		)		(155.0		)
Other, net		(0.4		)		—
Gross deferred liabilities		(231.1		)		(237.0		)
Net deferred tax liabilities		$	(152.0	)		$	(155.0	)

Schedule of Deferred tax assets and (liabilities) included in the balance sheet

Deferred tax assets and liabilities included in the Consolidated Balance Sheet follows:

(in millions)		December 31, 2018				December 31, 2017
Other long-term assets		$	2.6			$	1.4
Other long-term liabilities		(154.6		)		(156.4		)
Net deferred tax liabilities		$	(152.0	)		$	(155.0	)

Schedule of reconciliation of the beginning and ending amount of gross unrecognized tax benefits (before estimated interest and penalties)

A summary of the movement in gross unrecognized tax benefits (before estimated interest and penalties) follows:

(in millions)		2018				2017				2016
Balance as of January 1		$	37.4			$	24.6			$	27.7
Additions based on tax positions related to current year		3.3				3.0				0.6
Additions related to acquired uncertain tax positions		—				12.6				—
Adjustments for tax positions of prior years		—				1.5				—
Reductions due to statute of limitations		(12.0		)		(3.3		)		(2.1		)
Reductions due to settlements		(1.2		)		(1.7		)		(1.4		)
Adjustments due to foreign exchange rates		(0.2		)		0.7				(0.2		)
Balance as of December 31		$	27.3			$	37.4			$	24.6

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position by balance sheet location, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

No definition available.

+ Details

Name:	csl_ScheduleOfDeferredTaxAssetsAndLiabilitiesByBalanceSheetLocationTableTextBlock
Namespace Prefix:	csl_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h)(1)(i))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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=84230637&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=84230637&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=84230637&loc=d3e32840-109319

+ Details

Name:	us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration