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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Provision For Income Taxes

The provision for income taxes for 2020, 2019 and 2018, consisted of the following:

			Years Ended December 31,
(in millions)			2020						2019						2018
Current:
Federal			$	(22.0)					$	(75.5)					$	24.5
State			1.3						(5.2)						1.8
Non-U.S.			114.4						119.1						147.2
Total current			93.7						38.4						173.5
Noncurrent:
Federal			$	—					$	—					$	—
State			—						—						—
Non-U.S.			3.2						—						—
Total noncurrent			3.2						—						—
Deferred:
Federal			$	(66.7)					$	(194.8)					$	(105.1)
State			(12.9)						(6.7)						9.9
Non-U.S.			(595.8)						(61.6)						(1.2)
Total deferred			(675.4)						(263.1)						(96.4)
(Benefit from) provision for income taxes			$	(578.5)					$	(224.7)					$	77.1

Schedule Of Effective Income Tax Rate

The components of earnings from consolidated companies before income taxes, and the effects of significant adjustments to tax computed at the federal statutory rate, were as follows:

			Years Ended December 31,
(in millions)			2020						2019						2018
United States earnings (loss)			$	(449.0)					$	(1,096.2)					$	322.7
Non-U.S. earnings			629.9						(159.9)						228.8
(Loss) earnings from consolidated companies before income taxes			$	180.9					$	(1,256.1)					$	551.5
Computed tax at the U.S. federal statutory rate			21.0		%				21.0		%				21.0		%
State and local income taxes, net of federal income tax benefit			(7.0)		%				2.6		%				2.0		%
Percentage depletion in excess of basis			(10.3)		%				2.5		%				(6.7)		%
Impact of non-U.S. earnings			42.1		%				5.3		%				11.8		%
Change in valuation allowance			(330.0)		%				(3.1)		%				(15.2)		%
Phosphates goodwill impairment			—		%				(5.0)		%				—		%
Non-U.S. incentives			(35.6)		%				—		%				—		%
Share-based excess cost/(benefits)			—		%				—		%				0.7		%
Other items (none in excess of 5% of computed tax)			—		%				(5.4)		%				0.4		%
Effective tax rate			(319.8)		%				17.9		%				14.0		%

Schedule Of Deferred Tax Assets And Liabilities

Significant components of our deferred tax liabilities and assets as of December 31 were as follows:

			December 31,
(in millions)			2020						2019
Deferred tax liabilities:
Depreciation and amortization			$	232.5					$	70.7
Depletion			527.0						530.7
Partnership tax basis differences			69.0						69.8
Undistributed earnings of non-U.S. subsidiaries			3.8						3.8
Other liabilities			32.5						19.0
Total deferred tax liabilities			$	864.8					$	694.0
Deferred tax assets:
Deferred revenue			$	62.4					$	—
Capital loss carryforwards			0.1						—
Foreign tax credit carryforwards			628.6						522.5
Net operating loss carryforwards			321.8						420.0
Pension plans and other benefits			34.2						43.8
Asset retirement obligations			262.9						232.1
Disallowed interest expense under §163(j)			68.8						58.1
Other assets			287.6						349.3
Subtotal			1,666.4						1,625.8
Valuation allowance			683.0						1,457.1
Net deferred tax assets			983.4						168.7
Net deferred tax liabilities			$	118.6					$	(525.3)

Summary Of Income Tax Uncertainties

			Years Ended December 31,
(in millions)			2020						2019						2018
Gross unrecognized tax benefits, beginning of period			$	39.5					$	38.1					$	39.3
Gross increases:
Prior period tax positions			—						—						0.3
Current period tax positions			2.8						5.1						3.8
Gross decreases:
Prior period tax positions			(5.9)						(4.9)						(2.9)
Currency translation			0.5						1.2						(2.4)
Gross unrecognized tax benefits, end of period			$	36.9					$	39.5					$	38.1

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