XML 55 R38.htm IDEA: XBRL DOCUMENT v3.20.4

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Income Before Taxes

Income before taxes

		Years Ended December 31,
		2020					2019					2018
U.S.		$	(93	)			$	(83	)			$	(169	)
Non-U.S.			194					154					273
		$	101				$	71				$	104

Schedule of Components of Income Tax Expense (Benefit)

Income tax expense (benefit)

		Years Ended December 31,
		2020					2019					2018
Tax expense (benefit) consists of:
Current:
U.S.		$	21				$	23				$	(26	)
Non-U.S.			21					37					48
		$	42				$	60				$	22
Deferred:
U.S.		$	11				$	(11	)			$	(15	)
Non-U.S.			11					(14	)				(308	)
			22					(25	)				(323	)
		$	64				$	35				$	(301	)

Schedule of Federal Statutory Income Tax Rate Reconciliation with Effective Income Tax Rate

		Years Ended December 31,
		2020					2019					2018
The U.S. federal statutory income tax rate is reconciled to the Company’s effective income tax rate as follows:
U.S. federal statutory income tax rate			21.0		%			21.0		%			21.0		%
Impact of foreign operations			(5.4	)				(10.2	)				(11.6	)
U.S. state income taxes			6.4					6.6					6.4
U.S. Tax Reform and related items			-					-					(385.1	)
Non-deductible indemnification costs			29.0					28.0					75.4
Executive compensation over $1 million			2.5					0.6					-
Other non-deductible expenses			3.7					2.9					-
U.S. taxation of foreign earnings			3.5					5.3					6.0
Tax credits			(0.2	)				(2.6	)				(2.1	)
Change in tax rates			1.3					1.7					-
All other items – net			1.8					(4.7	)				0.6
			63.6		%			48.6		%			(289.4	)	%

Schedule of Tax Effects of Temporary Differences and Tax Carryforwards

The tax effects of temporary differences and tax carryforwards which give rise to future income tax benefits and payables are as follows:

		Years Ended December 31,
		2020					2019
Deferred tax assets:
Pension		$	37				$	27
Other asset basis differences			70					70
Operating lease liabilities			34					33
Accruals and reserves			61					61
Net operating and capital losses			47					32
Other			-					6
Gross deferred tax assets			249					229
Valuation allowance			(60	)				(32	)
Total deferred tax assets		$	189				$	197
Deferred tax liabilities:
Other intangible assets		$	(44	)			$	(42	)
Property, plant and equipment			(25	)				(22	)
Operating lease assets			(32	)				(32	)
Other			(13	)				(12	)
Total deferred tax liabilities			(114	)				(108	)
Net deferred tax asset		$	75				$	89

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

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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h)(1)(i))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration