XML 66 R32.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2017
Income Tax Disclosure [Abstract] |
Provision for income taxes | Our provision for income taxes consisted of the following:
| Year Ended December 31,
($ in millions) | 2017 | 2016 | 2015
U.S. Federal: |  |  |
| Current | $ | 12.2 |  | 1.3 |  | 30.3 |
| Noncurrent | 122.2 |  | — |  | — |
| Deferred | (9.2 | ) | (11.1 | ) | 17.8 |
|  | $ | 125.2 |  | (9.8 | ) | 48.1 |
State and Local: |  |  |
| Current | $ | 5.4 |  | 8.2 |  | 5.3 |
| Noncurrent | 19.1 |  | — |  | — |
| Deferred | (7.4 | ) | (4.0 | ) | 1.9 |
|  | $ | 17.1 |  | 4.2 |  | 7.2 |
International: |  |  |
| Current | $ | 141.2 |  | 105.4 |  | 81.9 |
| Deferred | (15.7 | ) | 8.2 |  | (4.4 | )
|  | $ | 125.5 |  | 113.6 |  | 77.5 |
Total | $ | 267.8 |  | 108.0 |  | 132.8 |
Reconciliation of reported tax expense to federal statutory tax | Income tax expense differed from the amounts computed by applying the U.S. federal income tax rate of 35% to earnings before provision for income taxes as a result of the following:
| Year Ended December 31,
($ in millions) | 2017 |  | 2016 |  | 2015
Income tax expense at statutory rates | $ | 183.8 |  | 35.0 | % |  | $ | 154.8 |  | 35.0 | % |  | $ | 202.7 |  | 35.0 | %
| Increase (reduction) in income taxes from: |  |  |  |  |  |  |  |
| State and local income taxes, net of federal income tax benefit | (0.4 | ) | (0.1 | ) |  | 2.8 |  | 0.6 |  |  | 5.9 |  | 1.0 |
| Amortization of goodwill and other intangibles | (6.7 | ) | (1.3 | ) |  | (5.7 | ) | (1.3 | ) |  | (5.1 | ) | (0.9 | )
| Nondeductible expenses | 7.0 |  | 1.3 |  |  | 6.7 |  | 1.5 |  |  | 5.4 |  | 0.9 |
| International earnings taxed at various rates | (68.7 | ) | (13.1 | ) |  | (59.1 | ) | (13.4 | ) |  | (57.0 | ) | (9.8 | )
| Valuation allowances | 5.8 |  | 1.1 |  |  | 8.3 |  | 1.9 |  |  | (4.7 | ) | (0.8 | )
| Recognition of tax benefit, net of nondeductible indemnification asset write-off | — |  | — |  |  | — |  | — |  |  | (8.3 | ) | (1.4 | )
| Transition tax due to U.S. tax reform | 141.3 |  | 26.9 |  |  | — |  | — |  |  | — |  | — |
| Other, net | 5.7 |  | 1.2 |  |  | 0.2 |  | 0.1 |  |  | (6.1 | ) | (1.1 | )
Total | $ | 267.8 |  | 51.0 | % |  | $ | 108.0 |  | 24.4 | % |  | $ | 132.8 |  | 22.9 | %
Income (loss) before taxes from domestic and international sources | Our income before taxes from domestic (U.S.) and international sources is presented in the following table.
| Year Ended December 31,
($ in millions) | 2017 | 2016 | 2015
Domestic | $ | 54.8 |  | 57.2 |  | 132.1 |
International | 470.3 |  | 385.2 |  | 447.0 |
Total | $ | 525.1 |  | 442.4 |  | 579.1 |
Tax effects of temporary differences that give rise to significant portions of deferred tax assets and liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are presented below.
| December 31,
($ in millions) | 2017 | 2016 | 2015
Deferred tax assets attributable to: |  |  |
Accrued expenses | $ | 230.6 |  | 224.2 |  | 170.5 |
U.S. federal and state loss and credit carryovers | 15.2 |  | 21.7 |  | 6.6 |
Allowances for uncollectible accounts | 16.5 |  | 12.7 |  | 7.1 |
International loss carryovers | 134.8 |  | 118.1 |  | 121.0 |
Investments in real estate ventures | — |  | — |  | 26.9 |
Pension liabilities | 20.4 |  | 18.2 |  | 12.6 |
Other | — |  | 7.4 |  | — |
Deferred tax assets | 417.5 |  | 402.3 |  | 344.7 |
Less: valuation allowances | (59.7 | ) | (51.7 | ) | (51.7 | )
Net deferred tax assets | $ | 357.8 |  | 350.6 |  | 293.0 |
Deferred tax liabilities attributable to: |  |  |
Property and equipment | $ | 17.9 |  | 24.3 |  | 0.6 |
Intangible assets | 121.6 |  | 152.8 |  | 123.9 |
Income deferred for tax purposes | 4.1 |  | 2.1 |  | 2.2 |
Investment in real estate ventures | 2.0 |  | 11.9 |  | — |
Other | 7.0 |  | 0.1 |  | 0.4 |
Deferred tax liabilities | $ | 152.6 |  | 191.2 |  | 127.1 |
Net deferred taxes | $ | 205.2 |  | 159.4 |  | 165.9 |
Reconciliation of beginning and ending amount of unrecognized tax benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is presented in the following table.
($ in millions) | 2017 | 2016
Balance as of January 1 | $ | 37.6 |  | 28.3 |
Additions based on tax positions related to the current year | 8.0 |  | 10.8 |
Increase/(Decrease) related to tax positions of prior years | 3.8 |  | (1.5 | )
Lapse of statute of limitations | — |  | — |
Balance as of December 31 | $ | 49.4 |  | 37.6 |

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://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=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://www.xbrl.org/2003/role/presentationRef -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://www.xbrl.org/2003/role/presentationRef -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://www.xbrl.org/2003/role/presentationRef -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://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
Name: | us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration