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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2016
Income Tax Disclosure [Abstract] |
Schedule of components of income (loss) before income taxes | The components of net loss before income taxes are presented below:
|  | Year Ended December 31,
|  | 2016 |  | 2015 |  | 2014
United States |  | $ | (563.7 | ) |  | $ | (1,662.5 | ) |  | $ | (595.1 | )
Foreign |  | 85.0 |  |  | (31.7 | ) |  | 100.2 |
Net loss before income tax benefit |  | $ | (478.7 | ) |  | $ | (1,694.2 | ) |  | $ | (494.9 | )
Schedule of components of the benefit for income taxes | The components of income tax benefit are presented below:
|  | Year Ended December 31,
|  | 2016 |  | 2015 |  | 2014
Current |  |  |  |  |  |
U.S. Federal |  | $ | 10.2 |  |  | $ | (24.6 | ) |  | $ | (14.4 | )
U.S. State |  | (0.3 | ) |  | (0.8 | ) |  | 0.3 |
Foreign |  | 32.0 |  |  | 36.4 |  |  | 17.8 |
Total |  | 41.9 |  |  | 11.0 |  |  | 3.7 |
Deferred |  |  |  |  |  |
U.S. Federal |  | (129.5 | ) |  | (287.4 | ) |  | (234.6 | )
U.S. State |  | (8.5 | ) |  | (22.0 | ) |  | (21.2 | )
Foreign |  | (28.9 | ) |  | (1.5 | ) |  | (8.5 | )
Total |  | (166.9 | ) |  | (310.9 | ) |  | (264.3 | )
Total income tax benefit |  | $ | (125.0 | ) |  | $ | (299.9 | ) |  | $ | (260.6 | )
Schedule of reconciliation of the U.S. federal statutory tax rate to the actual tax rate | The reconciliation of the U.S. federal statutory tax rate to the actual tax rate is presented below:
|  | Year Ended December 31,
|  | 2016 |  | 2015 |  | 2014
Statutory U.S. federal income tax rate |  | 35.0 | % |  | 35.0 | % |  | 35.0 | %
U.S. state income taxes, net of federal benefit |  | (0.4 | )% |  | 1.4 | % |  | 4.3 | %
Foreign earnings at lower rates than U.S. federal rate |  | (1.5 | )% |  | 0.2 | % |  | (0.5 | )%
Impact of goodwill impairments |  | (0.1 | )% |  | (19.4 | )% |  | — | %
Valuation allowance adjustments |  | (6.5 | )% |  | 0.7 | % |  | 13.2 | %
Other |  | (0.4 | )% |  | (0.2 | )% |  | 0.6 | %
Effective income tax rate |  | 26.1 | % |  | 17.7 | % |  | 52.6 | %
Schedule of deferred income taxes |
|  | As of December 31,
|  | 2016 |  | 2015
Deferred tax assets: |  |  |  |
Inventory valuation |  | $ | 23.4 |  |  | $ | 17.6 |
Reserves and other accrued expenses |  | 59.8 |  |  | 61.4 |
Net operating loss carry forwards |  | 530.4 |  |  | 494.6 |
Tax credit carry forwards |  | 44.5 |  |  | 45.0 |
Valuation allowance |  | (119.0 | ) |  | (95.6 | )
Other |  | 36.6 |  |  | 19.4 |
Realizable deferred tax assets |  | 575.7 |  |  | 542.4 |
Deferred tax liabilities: |  |  |  |
Deferred costs and prepaid expenses |  | (29.8 | ) |  | (31.9 | )
Differences in financial reporting and tax basis for: |  |  |  |
Property and equipment |  | 5.6 |  |  | (8.2 | )
Identifiable intangible assets |  | (597.1 | ) |  | (709.8 | )
Total deferred tax liabilities |  | (621.3 | ) |  | (749.9 | )
Net deferred tax liabilities on balance sheet |  | (45.6 | ) |  | (207.5 | )
Reported As: |  |  |  |
Non-current deferred tax assets |  | 24.6 |  |  | 20.7 |
Non-current deferred tax liabilities |  | (70.2 | ) |  | (228.2 | )
Net deferred tax liabilities on the balance sheet |  | $ | (45.6 | ) |  | $ | (207.5 | )
Summary of net operating loss carryforward | At December 31, 2016, we had the following NOL carry forwards (tax-effected) and foreign tax credit carry forwards:
| December 31, 2016
| Federal |  | State |  | Foreign
NOL carry forwards | $ | 428.8 |  |  | $ | 62.1 |  |  | $ | 46.6 |
FTC, R&D, AMT carry forwards | 43.6 |  |  | 2.3 |  |  | — |
Summary of valuation allowance | At December 31, 2016 and 2015, we had the following valuation allowances:
|  | December 31,
|  | 2016 |  | 2015
Federal |  | $ | 27.3 |  |  | $ | — |
State |  | 41.3 |  |  | 34.1 |
FTC |  | 12.7 |  |  | 12.7 |
Foreign |  | 37.7 |  |  | 48.8 |
Schedule of unrecognized tax benefits | SGC had the following activity for unrecognized tax benefits:
|  | Year Ended December 31,
|  | 2016 |  | 2015 |  | 2014
Balance at beginning of period |  | $ | 10.8 |  |  | $ | 13.9 |  |  | $ | 8.1 |
Tax positions related to current year additions |  | 8.4 |  |  | 2.0 |  |  | 0.5 |
Additions for tax positions of prior years |  | 9.7 |  |  | 2.4 |  |  | — |
Tax positions related to prior years reductions |  | (0.3 | ) |  | (3.0 | ) |  | (3.5 | )
Reductions due to lapse of statute of limitations on tax positions |  | (0.4 | ) |  | (0.1 | ) |  | — |
Current year business combinations |  | — |  |  | — |  |  | 9.8 |
Settlements |  | (0.8 | ) |  | (4.4 | ) |  | (1.0 | )
Balance at end of period |  | $ | 27.4 |  |  | $ | 10.8 |  |  | $ | 13.9 |

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=65882285&loc=SL6600010-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32718-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32840-109319 + Details
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