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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of income (loss) from continuing operations before income taxes and (provision for) benefit from income taxes

Income (loss) from continuing operations before income taxes and the (provision for) benefit from income taxes consisted of the following:

	Year ended December 31,
	2015				2014				2013
Income (loss) from continuing operations:
United States	$	(14.2	)		$	366.2			$	23.2
Foreign	(188.8		)		(110.4		)		(33.7		)
	$	(203.0	)		$	255.8			$	(10.5	)
(Provision for) benefit from income taxes:
Current:
United States	$	10.9			$	(200.1	)		$	116.2
Foreign	(3.3		)		(16.5		)		11.6
Total current	7.6				(216.6		)		127.8
Deferred and other:
United States	(10.7		)		95.7				(118.1		)
Foreign	14.9				(18.8		)		10.3
Total deferred and other	4.2				76.9				(107.8		)
Total (provision) benefit	$	11.8			$	(139.7	)		$	20.0

Schedule of reconciliation of income tax computed at the U.S. federal statutory tax rate to the effective income tax rate

The reconciliation of income tax computed at the U.S. federal statutory tax rate to our effective income tax rate was as follows:

	Year ended December 31,
	2015			2014			2013
Tax at U.S. federal statutory rate	35.0	%		35.0	%		35.0	%
State and local taxes, net of U.S. federal benefit	(0.1	)%		2.7	%		7.2	%
U.S. credits and exemptions	1.2	%		(1.3	)%		55.0	%
Foreign earnings/losses taxed at lower rates	(10.6	)%		9.4	%		(6.1	)%
Audit settlements with taxing authorities	0.5	%		(4.6	)%		3.9	%
Adjustments to uncertain tax positions	(4.2	)%		(1.6	)%		10.5	%
Changes in valuation allowance	(14.4	)%		13.2	%		50.9	%
Tax on distributions of foreign earnings	(0.2	)%		4.4	%		18.3	%
Goodwill impairment and basis adjustments	(1.8	)%		(2.4	)%		11.4	%
Other	0.4	%		(0.2	)%		4.4	%
	5.8	%		54.6	%		190.5	%

Schedule of significant components of deferred tax assets and liabilities

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

	As of December 31,
	2015				2014 (1)
Deferred tax assets:
NOL and credit carryforwards	$	85.3			$	266.2
Pension, other postretirement and postemployment benefits	80.3				116.9
Payroll and compensation	28.8				67.5
Legal, environmental and self-insurance accruals	40.6				45.8
Working capital accruals	15.8				34.7
Other	21.1				49.5
Total deferred tax assets	271.9				580.6
Valuation allowance	(70.9		)		(152.9		)
Net deferred tax assets	201.0				427.7
Deferred tax liabilities:
Intangible assets recorded in acquisitions	81.6				277.3
Basis difference in affiliates	10.3				187.5
Accelerated depreciation	38.9				64.8
Other	23.6				36.5
Total deferred tax liabilities	154.4				566.1
	$	46.6			$	(138.4	)

⁽¹⁾  Represents deferred tax assets and liabilities related to both continuing and discontinued operations, with net deferred tax liabilities associated with discontinued operations totaling $143.9. As discussed in Notes 1 and 18, certain corrections were made to deferred income taxes resulting in an increase of net deferred tax liabilities of $1.3.

Schedule of changes in the balance of unrecognized tax benefits

The aggregate changes in the balance of unrecognized tax benefits for the years ended December 31, 2015, 2014 and 2013 were as follows:

	Year ended December 31,
	2015				2014				2013
Unrecognized tax benefit — opening balance	$	63.3			$	128.4			$	108.4
Gross increases — tax positions in prior period	14.1				3.7				0.5
Gross decreases — tax positions in prior period	(7.6		)		(36.9		)		(2.3		)
Gross increases — tax positions in current period	11.3				11.7				28.4
Settlements	—				(28.2		)		(1.1		)
Lapse of statute of limitations	(4.4		)		(14.7		)		(5.5		)
Gross decreases — Spin-Off	(26.7		)		—				—
Change due to foreign currency exchange rates	(1.2		)		(0.7		)		—
Unrecognized tax benefit — ending balance	$	48.8			$	63.3			$	128.4

X

- Definition

Tabular disclosure of income from continuing operations before income tax between domestic and foreign jurisdictions and 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 of the related deferred tax asset in future years.

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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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

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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

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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

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