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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign | The sources of income before income taxes and equity in net earnings of affiliates were as follows for the years ended December 31, 2022, 2021 and 2020 (in millions):
| 2022 |  | 2021 |  | 2020
United States | $ | (60.2) |  |  | $ | 46.8 |  |  | $ | (73.4) |
Foreign | 1,167.4 |  |  | 897.5 |  |  | 635.4 |
Income before income taxes and equity in net earnings of affiliates | $ | 1,107.2 |  |  | $ | 944.3 |  |  | $ | 562.0 |
Schedule of Components of Income Tax Expense (Benefit) | The provision for income taxes by location of the taxing jurisdiction for the years ended December 31, 2022, 2021 and 2020 consisted of the following (in millions):
| 2022 |  | 2021 |  | 2020
Current: |  |  |  |  |
United States | $ | 26.0 |  |  | $ | 3.4 |  |  | $ | 4.1 |
Foreign | 328.6 |  |  | 222.9 |  |  | 180.2 |
| 354.6 |  |  | 226.3 |  |  | 184.3 |
Deferred: |  |  |  |  |
United States | (55.3) |  |  | (70.0) |  |  | 1.3 |
Foreign | (2.7) |  |  | (47.9) |  |  | 2.1 |
| (58.0) |  |  | (117.9) |  |  | 3.4 |
| $ | 296.6 |  |  | $ | 108.4 |  |  | $ | 187.7 |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of income taxes computed at the United States federal statutory income tax rate (21% for 2022, 2021 and 2020) to the provision for income taxes reflected in the Company’s Consolidated Statements of Operations for the years ended December 31, 2022, 2021 and 2020 is as follows (in millions):
| 2022 |  | 2021 |  | 2020
Provision for income taxes at United States federal statutory rate(1) | $ | 232.5 |  |  | $ | 198.3 |  |  | $ | 118.0 |
State and local income taxes, net of federal income tax effects(1) | (2.9) |  |  | 2.2 |  |  | (3.5) |
Taxes on foreign income which differ from the United States statutory rate | 43.6 |  |  | 16.2 |  |  | 13.9 |
Tax effect of permanent differences | (0.2) |  |  | (6.4) |  |  | 13.4 |
Change in valuation allowance | 0.7 |  |  | (130.8) |  |  | 16.3 |
Change in tax contingency reserves | 25.5 |  |  | 36.6 |  |  | 37.2 |
Research and development tax credits | (6.9) |  |  | (7.4) |  |  | (9.0) |
Other | 4.3 |  |  | (0.3) |  |  | 1.4 |
| $ | 296.6 |  |  | $ | 108.4 |  |  | $ | 187.7 |
____________________________________ (1)There were no impacts related to changes in tax laws that impacted the Company in 2022, 2021 and 2020.
Schedule of Deferred Tax Assets and Liabilities | The significant components of the deferred tax assets and liabilities at December 31, 2022 and 2021 were as follows (in millions):
| 2022 |  | 2021
Deferred Tax Assets: |  |  |
Net operating loss carryforwards | $ | 45.9 |  |  | $ | 69.5 |
Sales incentive discounts | 46.3 |  |  | 40.1 |
Inventory valuation reserves | 34.4 |  |  | 33.6 |
Pensions and postretirement health care benefits | 19.7 |  |  | 18.5 |
Warranty and other reserves | 127.7 |  |  | 102.9 |
Research and development tax credits | 6.9 |  |  | 3.8 |
Foreign tax credits | 4.7 |  |  | 9.4 |
Other | 15.6 |  |  | 14.0 |
Total gross deferred tax assets | 301.2 |  |  | 291.8 |
Valuation allowance | (47.3) |  |  | (47.4) |
Total deferred tax assets | 253.9 |  |  | 244.4 |
Deferred Tax Liabilities: |  |  |
Tax over book depreciation and amortization | 123.6 |  |  | 159.3 |
Investment in affiliates | 11.3 |  |  | 24.4 |
Other | 2.5 |  |  | 8.3 |
Total deferred tax liabilities | 137.4 |  |  | 192.0 |
Net deferred tax assets | $ | 116.5 |  |  | $ | 52.4 |
Amounts recognized in Consolidated Balance Sheets: |  |  |
Deferred tax assets - noncurrent | $ | 228.5 |  |  | $ | 169.3 |
Deferred tax liabilities - noncurrent | (112.0) |  |  | (116.9) |
| $ | 116.5 |  |  | $ | 52.4 |
Summary of Income Tax Contingencies | A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits as of and during the years ended December 31, 2022 and 2021 is as follows (in millions):
| 2022 |  | 2021
Gross unrecognized income tax benefits at the beginning of the year | $ | 246.4 |  |  | $ | 227.9 |
Additions for tax positions of the current year | 51.7 |  |  | 43.0 |
Additions for tax positions of prior years | 3.9 |  |  | 8.4 |
Reductions for tax positions of prior years for: |  |  |
Changes in judgments | (6.5) |  |  | 3.2 |
Settlements during the year | (0.6) |  |  | (19.1) |
Lapses of applicable statute of limitations | (1.2) |  |  | (0.6) |
Foreign currency translation and other | (12.0) |  |  | (16.4) |
Gross unrecognized income tax benefits at the end of the year | $ | 281.7 |  |  | $ | 246.4 |

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- 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 https://asc.fasb.org/extlink&oid=121826272&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 https://asc.fasb.org/extlink&oid=121826272&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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32840-109319 + Details
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