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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2020
Income Tax Disclosure [Abstract] |
Income/(Loss) before Income Taxes by Geographic Area | Income (loss) before income taxes by geographic area was as follows (in millions):
|  | Years Ended December 31,
|  | 2020 |  | 2019 |  | 2018
Domestic |  | $ | 366.6 |  |  | $ | 227.9 |  |  | $ | 192.1 |
Foreign |  | 3.7 |  |  | (0.6) |  |  | 13.3 |
Total income (loss) before income taxes |  | $ | 370.3 |  |  | $ | 227.3 |  |  | $ | 205.4 |
Federal, State and Foreign Income Tax Provisions/(Benefits) | Federal, state and foreign income tax (benefits) provisions were as follows (in millions):
|  | Years Ended December 31,
|  | 2020 |  | 2019 |  | 2018
Federal: |  |  |  |  |  |
Current |  | $ | 70.8 |  |  | $ | 30.9 |  |  | $ | 35.9 |
Deferred |  | 5.4 |  |  | 16.5 |  |  | 2.6 |
State: |  |  |  |  |  |
Current |  | 7.0 |  |  | 3.8 |  |  | 4.3 |
Deferred |  | (1.3) |  |  | 4.0 |  |  | 0.9 |
Foreign: |  |  |  |  |  |
Current |  | 7.0 |  |  | 2.3 |  |  | 3.9 |
Deferred |  | (5.1) |  |  | (4.3) |  |  | — |
(Benefit) provision for income taxes |  | $ | 83.8 |  |  | $ | 53.3 |  |  | $ | 47.6 |
Reconciliation of Income Tax Expense due to the U.S. Federal Statutory Corporate Tax Rate | Actual income tax expense differed from income tax expense computed by applying the applicable U.S. federal statutory corporate tax rate of 21.0% to income before income taxes, as follows (in millions):
|  | Years Ended December 31,
|  | 2020 |  | 2019 |  | 2018
Provision at the U.S. federal statutory rate |  | $ | 77.7 |  |  | $ | 47.7 |  |  | $ | 43.1 |
Increase (decrease) resulting from: |  |  |  |  |  |
State income tax, net of benefit for federal deduction |  | 5.8 |  |  | 5.2 |  |  | 3.6 |
Foreign income tax rate differential |  | (1.4) |  |  | 0.9 |  |  | (0.3) |
Tax Credits |  | (0.3) |  |  | (1.1) |  |  | (1.3) |
Changes in valuation allowances |  | 2.3 |  |  | (1.7) |  |  | 3.4 |
Tax Act — Enactment date effect |  | — |  |  | — |  |  | (0.6) |
Stock-based compensation |  | (0.8) |  |  | — |  |  | (0.1) |
Uncertain tax benefits |  | (0.3) |  |  | 0.7 |  |  | 0.4 |
Other |  | 0.8 |  |  | 1.6 |  |  | (0.7) |
(Benefit) provision for income taxes |  | $ | 83.8 |  |  | $ | 53.3 |  |  | $ | 47.6 |
Tax Effects of Temporary Differences Representing Deferred Tax Assets/Liabilities | The tax effects of these temporary differences representing deferred tax assets/liabilities resulted principally from the following (in millions):
|  | December 31,
|  | 2020 |  | 2019
Deferred tax assets: |  |  |  |
Loss reserves and accruals |  | $ | 52.9 |  |  | $ | 42.8 |
Interest rate swaps |  | 10.0 |  |  | 1.3 |
U.S. state net operating loss (“NOL”) carryforwards |  | 34.5 |  |  | 38.2 |
Foreign NOL carryforwards |  | 28.9 |  |  | 37.6 |
Operating lease liabilities |  | 56.9 |  |  | 55.5 |
Goodwill and intangible franchise rights |  | 2.6 |  |  | — |
Other |  | 2.2 |  |  | 1.5 |
Deferred tax assets |  | 188.0 |  |  | 176.9 |
Less: valuation allowance on deferred tax assets |  | 60.5 |  |  | 69.7 |
Net deferred tax assets |  | $ | 127.5 |  |  | $ | 107.2 |
Deferred tax liabilities: |  |  |  |
Goodwill and intangible franchise rights |  | $ | 142.0 |  |  | $ | 135.1 |
Depreciation expense |  | 71.1 |  |  | 68.0 |
Operating lease ROU assets |  | 45.0 |  |  | 45.4 |
Other |  | 2.0 |  |  | — |
Deferred tax liabilities |  | 260.1 |  |  | 248.5 |
Net deferred tax liability |  | $ | 132.6 |  |  | $ | 141.3 |
The classification of the Company’s net deferred tax liability within the Consolidated Balance Sheets is as follows (in millions):
|  | December 31,
|  | 2020 |  | 2019
Deferred tax asset, included in Other long-term assets |  | $ | 8.4 |  |  | $ | 4.4 |
Deferred tax liability, included in Deferred income taxes |  | 141.0 |  |  | 145.7 |
Net deferred tax liability |  | $ | 132.6 |  |  | $ | 141.3 |
Reconciliation of Unrecognized Tax Benefits | A reconciliation of the Company’s unrecognized tax benefits is as follows (in millions):
| 2020 |  | 2019 |  | 2018
Balance at January 1 | $ | 2.4 |  |  | $ | 1.6 |  |  | $ | 1.2 |
Additions for current tax | 0.5 |  |  | 1.0 |  |  | 0.6 |
Additions based on tax positions in prior years | — |  |  | — |  |  | — |
Reductions for tax positions | (0.4) |  |  | — |  |  | — |
Settlements with tax authorities | — |  |  | — |  |  | — |
Reductions due to lapse of statutes of limitations | (0.5) |  |  | (0.2) |  |  | (0.1) |
Balance at December 31 | $ | 2.0 |  |  | $ | 2.4 |  |  | $ | 1.6 |

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