XML 52 R36.htm IDEA: XBRL DOCUMENT
v3.20.4

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Income Taxes |
Schedule of significant components of the Company's deferred income tax liabilities and assets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
​ |  | 2020 |  | 2019
​ | ​ | (in millions)
Deferred income tax liabilities: | ​ | ​ | ​ | ​ | ​ | ​
Excess tax over book depreciation | ​ | $ | 22.5 | ​ | $ | 18.8
Intangibles | ​ |  | 31.7 | ​ |  | 32.1
Goodwill | ​ | ​ | 23.6 | ​ | ​ | 21.0
Foreign earnings | ​ | ​ | 4.2 | ​ | ​ | 3.9
Operating lease ROU assets | ​ | ​ | 11.0 | ​ | ​ | 10.3
Other | ​ |  | 2.9 | ​ |  | 4.9
Total deferred tax liabilities | ​ |  | 95.9 | ​ |  | 91.0
Deferred income tax assets: | ​ | ​ | ​ | ​ | ​ | ​
Accrued expenses | ​ |  | 7.8 | ​ |  | 7.8
Product liability | ​ | ​ | 6.1 | ​ | ​ | 6.3
Operating lease liabilities | ​ | ​ | 11.2 | ​ | ​ | 10.4
Stock based compensation | ​ | ​ | 4.9 | ​ | ​ | 5.4
Foreign tax credits | ​ | ​ | 34.4 | ​ | ​ | 32.7
Net operating loss carry forward | ​ |  | 7.5 | ​ |  | 6.4
Capital loss carry forward | ​ | ​ | 1.0 | ​ | ​ | —
Inventory reserves | ​ |  | 9.0 | ​ |  | 5.2
Other | ​ |  | 9.4 | ​ |  | 9.5
Total deferred tax assets | ​ |  | 91.3 | ​ |  | 83.7
Less: valuation allowance | ​ |  | (42.1) | ​ |  | (28.6)
Net deferred tax assets | ​ |  | 49.2 | ​ |  | 55.1
Net deferred tax liabilities | ​ | $ | (46.7) | ​ | $ | (35.9)
Schedule of pre-tax income upon which provision for income taxes from continuing operations is based | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2020 |  | 2019 |  | 2018
​ | ​ | (in millions)
Domestic | ​ | $ | 96.8 | ​ | $ | 119.9 | ​ | $ | 103.2
Foreign | ​ | ​ | 70.2 | ​ |  | 64.0 | ​ |  | 71.4
​ | ​ | $ | 167.0 | ​ | $ | 183.9 | ​ | $ | 174.6
Schedule of provision for income taxes from continuing operations | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2020 |  | 2019 |  | 2018
​ | ​ | (in millions)
Current tax expense: | ​ | ​ |  | ​ | ​ |  | ​ | ​ |
Federal | ​ | $ | 13.4 | ​ | $ | 18.7 | ​ | $ | 24.7
Foreign | ​ |  | 25.3 | ​ |  | 25.5 | ​ |  | 29.0
State | ​ |  | 6.9 | ​ |  | 6.4 | ​ |  | 7.7
​ | ​ |  | 45.6 | ​ |  | 50.6 | ​ |  | 61.4
Deferred tax expense (benefit): | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ |  | 14.8 | ​ |  | 2.5 | ​ |  | (3.2)
Foreign | ​ |  | (6.7) | ​ |  | (2.1) | ​ |  | (7.7)
State | ​ |  | (1.0) | ​ |  | 1.4 | ​ |  | (1.9)
​ | ​ |  | 7.1 | ​ |  | 1.8 | ​ |  | (12.8)
Deferred tax remeasurement of the 2017 Tax Act | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (2.0)
​ | ​ | $ | 52.7 | ​ | $ | 52.4 | ​ | $ | 46.6
Reconciliation of federal statutory taxes to actual income taxes reported from continuing operations | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2020 |  | 2019 |  | 2018
​ | ​ | (in millions)
Computed expected federal income expense | ​ | $ | 35.0 | ​ | $ | 38.6 | ​ | $ | 36.6
State income taxes, net of federal tax benefit | ​ |  | 4.6 | ​ |  | 6.3 | ​ |  | 5.3
Foreign tax rate differential | ​ |  | 2.7 | ​ |  | 4.2 | ​ |  | 2.7
Impact of the 2017 Tax Act | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (3.7)
Valuation allowance | ​ | ​ | 12.9 | ​ | ​ | — | ​ | ​ | —
GILTI HTE | ​ | ​ | (2.1) | ​ | ​ | — | ​ | ​ | —
Unrecognized tax benefits, net | ​ | ​ | (0.3) | ​ | ​ | 0.7 | ​ | ​ | 3.2
Other, net | ​ |  | (0.1) | ​ |  | 2.6 | ​ |  | 2.5
​ | ​ | $ | 52.7 | ​ | $ | 52.4 | ​ | $ | 46.6
Reconciliation of the beginning and ending amount of unrecognized tax benefits | ​
​ | ​ | ​ | ​
​ |  | (in millions)
Balance at January 1, 2020 | ​ | $ | 9.3
Increases related to prior year tax positions | ​ |  | 1.8
Decreases due to lapse in statutes | ​ |  | (0.2)
Currency movement | ​ | ​ | 0.8
Balance at December 31, 2020 | ​ | $ | 11.7

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)(1)(i)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for 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 and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319 + Details
Name: | us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration