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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2016
Income Tax Disclosure [Abstract] |
Components of Provision (Benefit) for Income Taxes | The following table summarizes the income tax expense (benefit) from continuing operations:
(in millions) | 2016 |  | 2015 |  | 2014
Current: |  |  |  |  |
Federal | $ | 7.0 |  |  | $ | 6.6 |  |  | $ | 3.0 |
Foreign | 0.6 |  |  | — |  |  | 0.3 |
State and local | 2.0 |  |  | 1.8 |  |  | 1.3 |
Total current tax expense | 9.6 |  |  | 8.4 |  |  | 4.6 |
Deferred: |  |  |  |  |
Federal | 8.4 |  |  | 25.4 |  |  | 17.8 |
Foreign | (0.7 | ) |  | (2.0 | ) |  | (3.0 | )
State and local | 0.1 |  |  | 2.3 |  |  | 4.3 |
Total deferred tax expense | 7.8 |  |  | 25.7 |  |  | 19.1 |
Total income tax expense | $ | 17.4 |  |  | $ | 34.1 |  |  | $ | 23.7 |
Differences between Statutory Federal Income Tax Rate and Effective Income Tax Rate | The following table summarizes the differences between the statutory federal income tax rate and the effective income tax rate from continuing operations:
| 2016 |  | 2015 |  | 2014
Statutory federal income tax rate | 35.0 | % |  | 35.0 | % |  | 35.0 | %
State income taxes, net of federal tax benefit | 3.6 |  |  | 3.3 |  |  | 3.7 |
Valuation allowance | (3.7 | ) |  | 1.7 |  |  | (4.5 | )
Domestic production deduction | (2.4 | ) |  | (2.2 | ) |  | (2.1 | )
Tax planning benefits, excluding valuation allowance effects | — |  |  | (6.0 | ) |  | — |
Tax reserves | (1.0 | ) |  | 0.2 |  |  | (1.2 | )
Tax credits | (0.8 | ) |  | 1.9 |  |  | (0.6 | )
Foreign tax rate effects | 0.8 |  |  | 0.5 |  |  | (2.0 | )
Other, net | (0.9 | ) |  | (0.3 | ) |  | 0.1 |
Effective income tax rate | 30.6 | % |  | 34.1 | % |  | 28.4 | %
Schedule of Income before Income Tax | The following table summarizes income from continuing operations before taxes:
(in millions) | 2016 |  | 2015 |  | 2014
U.S. | $ | 57.7 |  |  | $ | 96.4 |  |  | $ | 78.2 |
Non-U.S. | (0.9 | ) |  | 3.5 |  |  | 5.2 |
Income from continuing operations before taxes | $ | 56.8 |  |  | $ | 99.9 |  |  | $ | 83.4 |
Deferred Income Tax Assets and Liabilities | The following table summarizes deferred income tax assets and liabilities of the Company’s continuing operations:
(in millions) | 2016 |  | 2015
Deferred tax assets: |  |  |
Depreciation and amortization | $ | 11.2 |  |  | $ | 10.9 |
Accrued expenses | 25.9 |  |  | 27.6 |
Net operating loss, alternative minimum tax, research and development and foreign tax credit carryforwards | 22.6 |  |  | 29.1 |
Definite lived intangibles | 1.2 |  |  | 1.4 |
Pension benefits | 32.9 |  |  | 33.5 |
Other | 0.1 |  |  | — |
Gross deferred tax assets | 93.9 |  |  | 102.5 |
Valuation allowance | (7.7 | ) |  | (5.9 | )
Total deferred tax assets | 86.2 |  |  | 96.6 |
Deferred tax liabilities: |  |  |
Depreciation and amortization | (10.5 | ) |  | (6.6 | )
Expenses capitalized for book | (1.4 | ) |  | (2.0 | )
Pension benefits | (14.5 | ) |  | (14.7 | )
Indefinite lived intangibles | (51.1 | ) |  | (52.6 | )
Other | (0.2 | ) |  | (0.1 | )
Gross deferred tax liabilities | (77.7 | ) |  | (76.0 | )
Net deferred tax assets | $ | 8.5 |  |  | $ | 20.6 |
Summary of Activities Related to Unrecognized Tax Benefits | The following table summarizes the activity related to the Company’s unrecognized tax benefits:
(in millions) | 2016 |  | 2015 |  | 2014
Balance at January 1 | $ | 2.2 |  |  | $ | 2.0 |  |  | $ | 3.9 |
Increases related to current year tax | 0.1 |  |  | 0.3 |  |  | 0.4 |
Increases from prior period positions | — |  |  | — |  |  | 0.3 |
Decreases from prior period positions | — |  |  | — |  |  | (0.1 | )
Decreases due to lapse of statute of limitations | (0.5 | ) |  | (0.1 | ) |  | (2.4 | )
Foreign currency translation | — |  |  | — |  |  | (0.1 | )
Balance at December 31 | $ | 1.8 |  |  | $ | 2.2 |  |  | $ | 2.0 |

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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=65882285&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=65882285&loc=d3e32687-109319 + Details
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