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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Provision for income taxes

Our provision for income taxes consisted of the following:

		Year Ended December 31,
($ in millions)		2018			2017		2016
U.S. federal:
	Current	$	39.8		12.2		1.3
	Noncurrent	35.7			122.2		—
	Deferred	(20.1		)	(23.7	)	(5.4	)
		$	55.4		110.7		(4.1	)
State and Local:
	Current	$	12.5		5.4		8.2
	Noncurrent	7.5			19.1		—
	Deferred	(5.0		)	(5.0	)	(0.9	)
		$	15.0		19.5		7.3
International:
	Current	$	145.3		141.2		105.4
	Deferred	(1.4		)	(15.1	)	9.2
		$	143.9		126.1		114.6
Total		$	214.3		256.3		117.8

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 21% to earnings before provision for income taxes as a result of the following:

		Year Ended December 31,
($ in millions)		2018						2017						2016
Income tax expense at statutory rates		$	148.3		21.0	%		$	187.5		35.0	%		$	162.3		35.0	%
	Increase (reduction) in income taxes from:
	State and local income taxes, net of federal income tax benefit	2.8			0.4			(0.1		)	—			5.9			1.3
	Amortization of goodwill and other intangibles	(3.4		)	(0.5	)		(6.7		)	(1.3	)		(5.7		)	(1.2	)
	Nondeductible expenses	14.6			2.1			7.0			1.3			6.7			1.4
	International earnings taxed at various rates	(21.1		)	(3.0	)		(69.0		)	(12.9	)		(59.8		)	(12.9	)
	Valuation allowances	12.4			1.8			5.8			1.1			8.3			1.8
	Transition tax and deferred tax due to U.S. tax reform	47.0			6.7			125.9			23.5			—			—
	Other, net	13.7			1.9			5.9			1.1			0.1			0.1
Total		$	214.3		30.4	%		$	256.3		47.8	%		$	117.8		25.5	%

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)	2018			2017		2016
Domestic	$	101.3		62.7		73.6
International	604.7			473.1		390.1
Total	$	706.0		535.8		463.7

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)	2018			2017
Deferred tax assets attributable to:
Accrued expenses	$	216.0		230.6
U.S. federal and state loss and credit carryovers	24.1			15.2
Allowances for uncollectible accounts	17.5			16.5
International loss carryovers	142.5			134.8
Pension liabilities	17.7			20.4
Other	11.6			—
Deferred tax assets	429.4			417.5
Less: valuation allowances	(79.2		)	(59.7	)
Net deferred tax assets	$	350.2		357.8
Deferred tax liabilities attributable to:
Property and equipment	$	14.2		17.9
Intangible assets	132.2			121.6
Income deferred for tax purposes	5.9			43.4
Investment in real estate ventures	8.0			2.0
Other	12.6			7.0
Deferred tax liabilities	$	172.9		191.9
Net deferred taxes	$	177.3		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)	2018			2017
Balance as of January 1	$	49.4		37.6
Additions based on tax positions related to the current year	8.3			8.0
Increase/(Decrease) related to tax positions of prior years	5.0			3.8
Lapse of statute of limitations	—			—
Balance as of December 31	$	62.7		49.4

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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.

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