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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Provision For Income Taxes

The provision for income taxes for 2021, 2020 and 2019, consisted of the following:

			Years Ended December 31,
(in millions)			2021						2020						2019
Current:
Federal			$	(12.7)					$	(22.0)					$	(75.5)
State			5.6						1.3						(5.2)
Non-U.S.			386.9						114.4						119.1
Total current			379.8						93.7						38.4
Noncurrent:
Federal			$	—					$	—					$	—
State			—						—						—
Non-U.S.			110.0						3.2						—
Total noncurrent			110.0						3.2						—
Deferred:
Federal			$	141.9					$	(66.7)					$	(194.8)
State			21.4						(12.9)						(6.7)
Non-U.S.			(55.4)						(595.8)						(61.6)
Total deferred			107.9						(675.4)						(263.1)
Provision for (benefit from) income taxes			$	597.7					$	(578.5)					$	(224.7)

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)			2021						2020						2019
U.S.earnings (loss)			$	900.1					$	(449.0)					$	(1,096.2)
Non-U.S. earnings			1,324.7						629.9						(159.9)
Earnings (loss) from consolidated companies before income taxes			$	2,224.8					$	180.9					$	(1,256.1)
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			1.2		%				(7.0)		%				2.6		%
Percentage depletion in excess of basis			(1.1)		%				(10.3)		%				2.5		%
Impact of non-U.S. earnings			6.3		%				42.1		%				5.3		%
Change in valuation allowance			(0.3)		%				(330.0)		%				(3.1)		%
Phosphates goodwill impairment			—		%				—		%				(5.0)		%
Non-U.S. incentives			(5.7)		%				(35.6)		%				—		%
Other items (none in excess of 5% of computed tax)			5.5		%				—		%				(5.4)		%
Effective tax rate			26.9		%				(319.8)		%				17.9		%

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)			2021						2020
Deferred tax liabilities:
Depreciation and amortization			$	456.2					$	232.5
Depletion			430.1						527.0
Partnership tax basis differences			66.3						69.0
Undistributed earnings of non-U.S. subsidiaries			—						3.8
Other liabilities			39.1						32.5
Total deferred tax liabilities			$	991.7					$	864.8
Deferred tax assets:
Deferred revenue			$	—					$	62.4
Capital loss carryforwards			—						0.1
Foreign tax credit carryforwards			775.1						628.6
Net operating loss carryforwards			232.3						321.8
Pension plans and other benefits			19.8						34.2
Asset retirement obligations			337.3						262.9
Disallowed interest expense under §163(j)			31.6						68.8
Other assets			351.2						287.6
Subtotal			1,747.3						1,666.4
Valuation allowance			774.7						683.0
Net deferred tax assets			972.6						983.4
Net deferred tax liabilities			$	(19.1)					$	118.6

Summary Of Income Tax Uncertainties

A summary of gross unrecognized tax benefit activity is as follows:

			Years Ended December 31,
(in millions)			2021						2020						2019
Gross unrecognized tax benefits, beginning of period			$	36.9					$	39.5					$	38.1
Gross increases:
Prior period tax positions			84.7						—						—
Current period tax positions			3.0						2.8						5.1
Gross decreases:
Prior period tax positions			—						(5.9)						(4.9)
Currency translation			—						0.5						1.2
Gross unrecognized tax benefits, end of period			$	124.6					$	36.9					$	39.5

Summary of Valuation Allowance

Changes to our income tax valuation allowance were as follows:

			Years Ended December 31,
(in millions)			2021						2020						2019
Income tax valuation allowance, related to deferred income taxes
Balance at beginning of period			$	683.0					$	1,457.10					$	1,530.5
Charges or (reductions) to costs and expenses			91.7						(774.1)						(73.4)
Balance at end of period			$	774.7					$	683.0					$	1,457.1

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