XML 239 R33.htm IDEA: XBRL DOCUMENT v3.22.4

Income Taxes Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The income tax expense (benefit) is as follows (in millions):

			Year Ended December 31,
			2022						2021						2020
Current:
Federal			$	—					$	—					$	—
State and local			1.0						0.4						0.5
Foreign			—						—						—
			1.0						0.4						0.5
Deferred:
Federal (a)			14.9						(40.7)						—
State and local			(0.3)						1.2						(1.9)
Foreign			—						—						—
			14.6						(39.5)						(1.9)
Income tax expense (benefit)			$	15.6					$	(39.1)					$	(1.4)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Future tax consequences of temporary differences between the carrying amounts for financial reporting purposes and the Company’s estimate of the tax bases of its assets and liabilities result in deferred tax assets and liabilities, as follows (in millions):

			December 31,
			2022						2021
Deferred tax assets:
Employee benefits costs			$	33.5					$	36.2
Inventory			21.3						18.6
Property, plant and equipment			190.2						191.5
Research and experimental expenditures			3.5						—
Net operating loss and credit carryforwards			188.6						206.2
Accrued expenses			4.9						0.4
Long-term debt and financing costs			7.6						10.8
Lease liability			2.1						0.9
Other			0.4						0.2
Deferred tax assets			452.1						464.8
Valuation allowance			(414.1)						(414.7)
Deferred tax assets, net of valuation allowance			$	38.0					$	50.1
Deferred tax liabilities:
Intangible assets			$	9.0					$	7.9
Lease asset			1.8						0.4
Prepaid expenses			0.4						0.4
Deferred tax liabilities			$	11.2					$	8.7
Deferred tax assets, net			$	26.8					$	41.4

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

A reconciliation of income taxes calculated based on the federal statutory income tax rate and the effective tax rate follows:

			Year Ended December 31,
			2022						2021						2020
Federal statutory tax rate			21		%				21		%				21		%
Valuation allowance against net deferred tax assets			(1)						(53)						(26)
State rate changes			2						1						(1)
Executive compensation			1						1						2
State income tax expense, net of federal benefit			(1)						1						—
Uncertain tax positions			1						—						1
Effective tax rate			23		%				(29)		%				(3)		%

Summary of Income Tax Contingencies [Table Text Block]

A reconciliation of the beginning and ending amount of unrecognized tax benefits follows (in millions):

			Year Ended December 31,
			2022						2021
Balance at beginning of the period			$	1.0					$	0.8
Additions to tax positions of current period			0.9						0.4
Reductions to tax positions of prior years			—						(0.2)
Balance at end of the period			$	1.9					$	1.0

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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

+ Details

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

X

- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15A
-URI https://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32718-109319

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 19
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32840-109319

+ Details

Name:	us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration