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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2015
Income Tax Disclosure [Abstract] |
Components of income tax expense (benefit) |
| Year Ended December 31,
(millions of dollars) | 2015 |  | 2014 |  | 2013
Earnings before income taxes: |  |  |  |  |
U.S. | $ | 125.6 |  |  | $ | 218.8 |  |  | $ | 136.2 |
Non-U.S. | 801.2 |  |  | 761.3 |  |  | 733.1 |
Total | $ | 926.8 |  |  | $ | 980.1 |  |  | $ | 869.3 |
Provision for income taxes: |  |  |  |  |  |  |  |
Current: |  |  |  |  |  |  |  |
Federal | $ | 32.5 |  |  | $ | 25.7 |  |  | $ | 27.7 |
State | (4.3 | ) |  | 3.9 |  |  | 2.6 |
Foreign | 228.3 |  |  | 220.8 |  |  | 211.1 |
Total current | 256.5 |  |  | 250.4 |  |  | 241.4 |
Deferred: |  |  |  |  |
Federal | 31.8 |  |  | 66.2 |  |  | (2.3 | )
State | 2.6 |  |  | (1.2 | ) |  | (7.3 | )
Foreign | (10.5 | ) |  | (22.8 | ) |  | (13.5 | )
Total deferred | 23.9 |  |  | 42.2 |  |  | (23.1 | )
Total provision for income taxes | $ | 280.4 |  |  | $ | 292.6 |  |  | $ | 218.3 |
Effective Income Tax Rate Reconciliation |
| Year Ended December 31,
(millions of dollars) | 2015 |  | 2014 |  | 2013
Income taxes at U.S. statutory rate of 35% | $ | 324.4 |  |  | $ | 343.0 |  |  | $ | 304.3 |
Increases (decreases) resulting from: |  |  |  |  |  |  |  |
State taxes, net of federal benefit | 8.2 |  |  | 2.6 |  |  | 2.3 |
U.S. tax on non-U.S. earnings | 31.5 |  |  | 18.8 |  |  | (2.8 | )
Affiliates' earnings | (14.0 | ) |  | (16.2 | ) |  | (15.6 | )
Foreign rate differential | (92.6 | ) |  | (84.1 | ) |  | (73.4 | )
Tax holidays | (21.2 | ) |  | (23.6 | ) |  | (15.6 | )
Withholding taxes | 7.8 |  |  | 10.6 |  |  | 15.4 |
Tax credits | (3.2 | ) |  | (3.9 | ) |  | (6.9 | )
Reserve adjustments, settlements and claims | 19.4 |  |  | 41.0 |  |  | 0.5 |
Valuation allowance adjustments | 8.3 |  |  | 5.5 |  |  | (1.4 | )
Other | 11.8 |  |  | (1.1 | ) |  | 11.5 |
Provision for income taxes, as reported | $ | 280.4 |  |  | $ | 292.6 |  |  | $ | 218.3 |
Reconciliation of the total gross unrecognized tax benefits |
(millions of dollars) | 2015 |  | 2014
Balance, January 1 | $ | 60.4 |  |  | $ | 22.9 |
Additions based on tax positions related to current year | 20.7 |  |  | 19.3 |
Additions for tax positions of prior years | 6.7 |  |  | 22.5 |
Additions from acquisitions | 53.4 |  |  | — |
Reductions for closure of tax audits and settlements | (10.4 | ) |  | — |
Reductions for lapse in statute of limitations | (0.3 | ) |  | (1.5 | )
Translation adjustment | (3.2 | ) |  | (2.8 | )
Balance, December 31 | $ | 127.3 |  |  | $ | 60.4 |
Tax jurisdiction |
Tax jurisdiction |  | Years no longer subject to audit |  | Tax jurisdiction |  | Years no longer subject to audit
U.S. Federal |  | 2011 and prior |  | Hungary |  | 2008 and prior
China |  | 2009 and prior |  | Japan |  | 2011 and prior
France |  | 2012 and prior |  | Mexico |  | 2009 and prior
Germany |  | 2007 and prior |  | South Korea |  | 2009 and prior
Deferred Tax Assets (Liabilities) |
| December 31,
(millions of dollars) | 2015 |  | 2014
Deferred tax assets: |  |  |  |  |
Foreign tax credits | $ | 142.6 |  |  | $ | 121.8 |
Employee compensation | 34.6 |  |  | 33.8 |
Other comprehensive loss | 79.7 |  |  | 90.3 |
Research and development capitalization | 100.4 |  |  | 115.6 |
Net operating loss and capital loss carryforwards | 81.8 |  |  | 59.4 |
Pension and other postretirement benefits | 41.1 |  |  | 29.4 |
Other | 125.3 |  |  | 87.1 |
Total deferred tax assets | $ | 605.5 |  |  | $ | 537.4 |
Valuation allowance | (71.0 | ) |  | (46.4 | )
Net deferred tax asset | $ | 534.5 |  |  | $ | 491.0 |
Deferred tax liabilities: |  |  |  |  |
Goodwill and intangible assets | (259.2 | ) |  | (133.1 | )
Fixed assets | (115.5 | ) |  | (93.4 | )
Other | (66.4 | ) |  | (40.0 | )
Total deferred tax liabilities | $ | (441.1 | ) |  | $ | (266.5 | )
Net deferred taxes | $ | 93.4 |  |  | $ | 224.5 |

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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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- 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=6907707&loc=d3e32687-109319 + Details
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- Definition Tabular disclosure of 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 (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 + Details
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- Definition Tabular disclosure of income tax examinations that an enterprise is currently subject to or that have been completed in the current period typically including a description of the examination, the jurisdiction conducting the examination, the tax year(s) under examination, the likelihood of an unfavorable settlement, the range of possible losses, the liability recorded, the increase or decrease in the liability from the prior period, and any penalties and interest that have been recorded. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=51663037&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (c),(d)(2)-(3) -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 + Details
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