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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2013
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign | The components of income before income taxes, equity earnings and the impact of noncontrolling interests are listed below.
| Years ended December 31,
| 2013 |  | 2012 |  | 2011
Domestic | $ | 255.3 |  |  | $ | 386.9 |  |  | $ | 428.4 |
Foreign | 212.7 |  |  | 287.9 |  |  | 310.0 |
Total | $ | 468.0 |  |  | $ | 674.8 |  |  | $ | 738.4 |
Schedule of Components of Provision for Income Taxes | The provision for income taxes is listed below.
| Years ended December 31,
| 2013 |  | 2012 |  | 2011
U.S. federal income taxes (including foreign withholding taxes): |  |  |  |  |
Current | $ | 46.9 |  |  | $ | 9.4 |  |  | $ | 0.9 |
Deferred | 25.2 |  |  | 118.1 |  |  | 92.3 |
| 72.1 |  |  | 127.5 |  |  | 93.2 |
State and local income taxes: |  |  |  |  |
Current | (14.7 | ) |  | 17.1 |  |  | 12.3 |
Deferred | 24.7 |  |  | 25.3 |  |  | 11.3 |
| 10.0 |  |  | 42.4 |  |  | 23.6 |
Foreign income taxes: |  |  |  |  |
Current | 79.6 |  |  | 83.2 |  |  | 93.1 |
Deferred | 19.5 |  |  | (39.8 | ) |  | (19.7 | )
| 99.1 |  |  | 43.4 |  |  | 73.4 |
Total | $ | 181.2 |  |  | $ | 213.3 |  |  | $ | 190.2 |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the effective income tax rate before equity earnings and the impact of noncontrolling interests as reflected in our Consolidated Statements of Operations to the U.S. federal statutory income tax rate is listed below.
| Years ended December 31,
| 2013 |  | 2012 |  | 2011
U.S. federal statutory income tax rate | 35.0 | % |  | 35.0 | % |  | 35.0 | %
Income tax provision at U.S. federal statutory rate | $ | 163.8 |  |  | $ | 236.2 |  |  | $ | 258.4 |
State and local income taxes, net of federal income tax benefit | 6.5 |  |  | 27.3 |  |  | 15.3 |
Impact of foreign operations, including withholding taxes | 30.5 |  |  | 8.4 |  |  | (21.9 | )
Change in net valuation allowance 1 | 3.2 |  |  | (57.3 | ) |  | (32.9 | )
Worthless securities deduction | (22.2 | ) |  | 0.0 |  |  | (23.0 | )
Increases (decreases) in unrecognized tax benefits, net | 0.0 |  |  | 24.1 |  |  | (2.7 | )
Other | (0.6 | ) |  | (25.4 | ) |  | (3.0 | )
Provision for income taxes | $ | 181.2 |  |  | $ | 213.3 |  |  | $ | 190.2 |
Effective income tax rate on operations | 38.7 | % |  | 31.6 | % |  | 25.8 | %
1 | Reflects changes in valuation allowance that impacted the effective income tax rate for each year presented.
Schedule of Deferred Tax Assets and Liabilities | The components of deferred tax assets and liabilities are listed below.
| December 31,
| 2013 |  | 2012
Postretirement/post-employment benefits | $ | 32.5 |  |  | $ | 40.4 |
Deferred compensation | 187.2 |  |  | 192.4 |
Pension costs | 31.1 |  |  | 27.0 |
Basis differences in fixed assets | (4.1 | ) |  | 26.9 |
Rent | 50.7 |  |  | 50.2 |
Interest | 60.7 |  |  | 66.9 |
Accruals and reserves | 39.6 |  |  | 51.1 |
Allowance for doubtful accounts | 10.8 |  |  | 9.2 |
Basis differences in intangible assets | (402.2 | ) |  | (364.9 | )
Investments in equity securities | 48.6 |  |  | (5.2 | )
Tax loss/tax credit carry forwards | 443.6 |  |  | 449.7 |
Restructuring and other reorganization-related costs | 2.6 |  |  | 1.2 |
Other | 60.5 |  |  | 88.3 |
Total deferred tax assets, net | 561.6 |  |  | 633.2 |
Valuation allowance | (467.3 | ) |  | (392.9 | )
Net deferred tax assets | $ | 94.3 |  |  | $ | 240.3 |
Summary of Valuation Allowance | The change in the valuation allowance is listed below.
| Years ended December 31,
| 2013 |  | 2012 |  | 2011
Balance at beginning of period | $ | 392.9 |  |  | $ | 489.9 |  |  | $ | 508.1 |
Charged (reversed) to costs and expenses | 65.2 |  |  | (49.5 | ) |  | (25.1 | )
Charged (reversed) to gross tax assets and other accounts | 9.2 |  |  | (47.5 | ) |  | 6.9 |
Balance at end of period | $ | 467.3 |  |  | $ | 392.9 |  |  | $ | 489.9 |
Schedule of Unrecognized Tax Benefits Activity | The table below summarizes the activity related to our unrecognized tax benefits.
| December 31,
| 2013 |  | 2012 |  | 2011
Balance at beginning of period | $ | 194.6 |  |  | $ | 161.0 |  |  | $ | 146.7 |
Increases as a result of tax positions taken during a prior year | 8.3 |  |  | 28.2 |  |  | 5.3 |
Decreases as a result of tax positions taken during a prior year | (1.9 | ) |  | (6.8 | ) |  | (18.1 | )
Settlements with taxing authorities | (34.9 | ) |  | (0.7 | ) |  | (5.0 | )
Lapse of statutes of limitation | (10.6 | ) |  | (1.1 | ) |  | (0.2 | )
Increases as a result of tax positions taken during the current year | 63.7 |  |  | 14.0 |  |  | 32.3 |
Balance at end of period | $ | 219.2 |  |  | $ | 194.6 |  |  | $ | 161.0 |

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- 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=6907707&loc=d3e32639-109319 + Details
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