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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2015
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign | (Loss) income before income taxes, non-controlling interests and dividends on preferred shares were as follows:
(amounts in millions) |  | For the year ended December 31, 2015 |  | For the year ended December 31, 2014 |  | For the period from inception (April 23, 2013) through December 31, 2013 |  |  | For the ten months ended October 31, 2013
|  | (Successor) |  | (Successor) |  | (Successor) |  |  | (Predecessor)
Domestic |  | $ | (290.8 | ) |  | $ | (103.9 | ) |  | $ | (7.9 | ) |  |  | $ | (74.2 | )
Foreign |  | 61.5 |  |  | 73.0 |  |  | (193.5 | ) |  |  | 100.7 |
Total |  | $ | (229.3 | ) |  | $ | (30.9 | ) |  | $ | (201.4 | ) |  |  | $ | 26.5 |
Schedule of Components of Income Tax Expense (Benefit) | Income tax expense (benefit) consisted of the following:
(amounts in millions) |  | For the year ended December 31, 2015 |  | For the year ended December 31, 2014 |  | For the period from inception (April 23, 2013) through December 31, 2013 |  |  | For the ten months ended October 31, 2013
|  | (Successor) |  | (Successor) |  | (Successor) |  |  | (Predecessor)
Current: |  |  |  |  |  |  |  |  |
U.S.: |  |  |  |  |  |  |  |  |
Federal |  | $ | 0.7 |  |  | $ | (0.6 | ) |  | $ | 0.3 |  |  |  | $ | (5.3 | )
State and local |  | (0.2 | ) |  | 0.4 |  |  | 0.1 |  |  |  | 0.3 |
Foreign |  | 120.1 |  |  | 36.7 |  |  | 1.3 |  |  |  | 22.8 |
Total current |  | 120.6 |  |  | 36.5 |  |  | 1.7 |  |  |  | 17.8 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |  |
U.S.: |  |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | 6.4 |  |  | (18.3 | ) |  | (2.1 | ) |  |  | (3.1 | )
State and local |  | (5.2 | ) |  | 0.4 |  |  | (0.3 | ) |  |  | 0.1 |
Foreign |  | (46.7 | ) |  | (25.3 | ) |  | (5.1 | ) |  |  | (1.8 | )
Total deferred |  | (45.5 | ) |  | (43.2 | ) |  | (7.5 | ) |  |  | (4.8 | )
Income tax expense (benefit) |  | $ | 75.1 |  |  | $ | (6.7 | ) |  | $ | (5.8 | ) |  |  | $ | 13.0 |
Schedule of Effective Income Tax Rate Reconciliation | Income tax expense (benefit) differed from the amounts computed by applying the U.S. Federal statutory tax rates to pretax income, as a result of the following:
(amounts in millions) |  | For the year ended December 31, 2015 |  | For the year ended December 31, 2014 |  | For the period from inception (April 23, 2013) through December 31, 2013 |  |  | For the ten months ended October 31, 2013
|  | (Successor) |  | (Successor) |  | (Successor) |  |  | (Predecessor)
U.S. federal statutory tax rate |  | 35.0 | % |  | 35.0 | % |  | 35.0 | % |  |  | 35.0 | %
Taxes computed at U.S. statutory rate |  | $ | (80.3 | ) |  | $ | (10.8 | ) |  | $ | (70.5 | ) |  |  | $ | 9.3 |
State income taxes, net of federal benefit |  | (3.6 | ) |  | 0.8 |  |  | 0.4 |  |  |  | (2.2 | )
Preferred dividend valuation |  | — |  |  | — |  |  | 60.2 |  |  |  | — |
Tax on foreign operations |  | 5.8 |  |  | (7.7 | ) |  | 0.4 |  |  |  | 0.8 |
Net change in reserve |  | 27.5 |  |  | 1.5 |  |  | (0.7 | ) |  |  | (0.1 | )
Change in valuation allowances |  | 72.6 |  |  | 0.2 |  |  | (0.9 | ) |  |  | 3.6 |
Provision for tax on undistributed foreign earnings |  | 5.0 |  |  | (3.7 | ) |  | 0.8 |  |  |  | (0.7 | )
Change of tax rate |  | (1.0 | ) |  | (0.5 | ) |  | — |  |  |  | (0.5 | )
Non-deductible transaction costs |  | 40.5 |  |  | 6.5 |  |  | 4.2 |  |  |  | 1.9 |
Foreign exchange impact on provision |  | — |  |  | — |  |  | — |  |  |  | 0.1 |
Purchase price contingency |  | 0.4 |  |  | 6.6 |  |  | — |  |  |  | — |
Other non-deductible items |  | 9.1 |  |  | — |  |  | — |  |  |  | — |
Other, net |  | (0.9 | ) |  | 0.4 |  |  | 0.3 |  |  |  | 0.8 |
Income tax expense (benefit) |  | $ | 75.1 |  |  | $ | (6.7 | ) |  | $ | (5.8 | ) |  |  | $ | 13.0 |
Effective tax rate |  | (32.8 | )% |  | 21.7 | % |  | 2.9 | % |  |  | 49.0 | %
Schedule of Deferred Tax Assets and Liabilities | The components of deferred income taxes at December 31, 2015 and 2014 were as follows:
(amounts in millions) |  | December 31, 2015 |  | December 31, 2014
Deferred tax assets: |  |  |  |
Accounts receivable |  | $ | 8.9 |  |  | $ | 5.9 |
Inventory |  | 6.6 |  |  | — |
Accrued liabilities |  | 34.8 |  |  | 3.6 |
Employee benefits |  | 27.5 |  |  | 20.2 |
Research and development costs |  | 11.8 |  |  | 11.2 |
Tax credits |  | 49.3 |  |  | 39.3 |
Net operating losses |  | 332.3 |  |  | 17.5 |
Goodwill |  | 26.8 |  |  | 31.2 |
Financing activities |  | 30.7 |  |  | 4.5 |
Other |  | 41.4 |  |  | 11.9 |
Total deferred tax assets |  | 570.1 |  |  | 145.3 |
Valuation allowance |  | (403.6 | ) |  | (19.7 | )
Total gross deferred tax assets |  | 166.5 |  |  | 125.6 |
Deferred tax liabilities: |  |  |  |  |  |
Plant and equipment |  | 38.6 |  |  | 16.7 |
Intangibles |  | 767.3 |  |  | 280.1 |
Undistributed foreign earnings |  | 7.1 |  |  | 2.6 |
Inventory |  | — |  |  | 0.8 |
Other |  | 2.9 |  |  | 2.5 |
Total gross deferred tax liabilities |  | 815.9 |  |  | 302.7 |
Net deferred tax liability |  | $ | 649.4 |  |  | $ | 177.1 |
Condensed Balance Sheet | The following schedule presents net current and net long-term deferred tax assets and liabilities as of December 31, 2015 and 2014:
(amounts in millions) |  | December 31, 2015 |  | December 31, 2014
Net current deferred tax asset |  | $ | — |  |  | $ | 18.7 |
Net non-current deferred tax asset |  | 29.4 |  |  | 6.5 |
Net deferred tax asset |  | 29.4 |  |  | 25.2 |
Net non-current deferred tax liability |  | 678.8 |  |  | 202.3 |
Total net deferred tax liability |  | $ | 649.4 |  |  | $ | 177.1 |
Schedule of Unrecognized Tax Benefits Roll Forward | The following table summarizes the activity related to the Company’s unrecognized tax benefits:
(amounts in millions) |  | For the year ended December 31, 2015 |  | For the year ended December 31, 2014 |  | For the period from inception (April 23, 2013) through December 31, 2013 |  |  | For the ten months ended October 31, 2013
|  | (Successor) |  | (Successor) |  | (Successor) |  |  | (Predecessor)
Unrecognized tax benefits at beginning of period |  | $ | 27.7 |  |  | $ | 25.6 |  |  | $ | — |  |  |  | $ | 22.7 |
Additions based on current year tax positions |  | 20.7 |  |  | 1.7 |  |  | 0.3 |  |  |  | 0.8 |
Additions based upon prior year tax positions (including acquired uncertain tax positions) |  | 72.2 |  |  | 7.4 |  |  | 26.3 |  |  |  | 0.3 |
Reductions due to closed statutes |  | (2.9 | ) |  | (6.7 | ) |  | (1.0 | ) |  |  | (0.3 | )
Reductions for settlements and payments |  | (5.5 | ) |  | (0.3 | ) |  | — |  |  |  | — |
Total unrecognized tax benefits at end of period |  | $ | 112.2 |  |  | $ | 27.7 |  |  | $ | 25.6 |  |  |  | $ | 23.5 |
Summary of Income Tax Examinations | As of December 31, 2015, the following tax years remained subject to examination by the major tax jurisdictions indicated below:
Major Jurisdictions |  | Open Years
Belgium |  | 2009 |  | through current
Brazil |  | 2009 |  | through current
China |  | 2009 |  | through current
France |  | 2009 |  | through current
Japan |  | 2010 |  | through current
Mexico |  | 2010 |  | through current
Netherlands |  | 2011 |  | through current
South Africa |  | 2011 |  | through current
Taiwan |  | 2010 |  | through current
United Kingdom |  | 2009 |  | through current

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