XML 38 R24.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Income Taxes | 9 Months Ended
--- | ---
Sep. 30, 2018
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes On December 22, 2017, changes in U.S. tax laws were enacted which significantly revised U.S. corporate income tax by, among other things, lowering the corporate income tax rate, implementing a modified territorial tax system, and imposing a one-time transition tax on deemed repatriated foreign earnings and profits. In 2017, the Company recorded a provisional one-time net benefit of $194.1 million as a reasonable estimate of the impact of the changes in U.S. tax laws. For the nine months ended September 30, 2018, the Company did not record any significant changes to its provisional amount. The impact of the changes in U.S. tax laws may be refined as further guidance, interpretations or information becomes available, upon completion by the Company of its evaluation of the impact of the changes in U.S. tax laws or upon the Company’s election of a policy with respect to the deferred tax effects of the Global Intangible Low Tax Income provisions of U.S. tax laws. The Company will finalize its accounting for the impact of changes in the U.S. tax laws in the fourth quarter of 2018. The Company’s consolidated income tax provision includes taxes attributable to the controlling interest and, to a lesser extent, taxes attributable to the non-controlling interests. The following table presents the consolidated provision for income taxes:
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2017 |  | 2018 |  | 2017 |  | 2018
Controlling interest: |  |  |  |  |  |  |
Current tax | $ | 39.6 |  |  | $ | 33.8 |  |  | $ | 102.0 |  |  | $ | 107.4 |
Intangible-related deferred taxes | 22.9 |  |  | 12.2 |  |  | 61.8 |  |  | 30.1 |
Other deferred taxes | 1.6 |  |  | 0.2 |  |  | 18.7 |  |  | 1.2 |
Total controlling interest | 64.1 |  |  | 46.2 |  |  | 182.5 |  |  | 138.7 |
Non-controlling interests: |  |  |  |  |  |  |
Current tax | $ | 2.1 |  |  | $ | 2.4 |  |  | $ | 5.9 |  |  | $ | 7.6 |
Deferred taxes | (0.1 | ) |  | (0.1 | ) |  | (0.2 | ) |  | (0.2 | )
Total non-controlling interests | 2.0 |  |  | 2.3 |  |  | 5.7 |  |  | 7.4 |
Provision for income taxes | $ | 66.1 |  |  | $ | 48.5 |  |  | $ | 188.2 |  |  | $ | 146.1 |
Income before income taxes (controlling interest) | $ | 189.5 |  |  | $ | 171.1 |  |  | $ | 556.7 |  |  | $ | 533.6 |
Effective tax rate (controlling interest)(1) | 33.8 | % |  | 27.0 | % |  | 32.8 | % |  | 26.0 | %
__________________________
(1) | Taxes attributable to the controlling interest divided by Income before income taxes (controlling interest).

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 The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration