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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule of Income Taxes and Provision for Income Taxes | Income before income taxes and the provision for income taxes, for the three years ended December 31, 2021, were as follows:
(In millions) |  | 2021 |  |  | 2020 |  |  | 2019 |
Income before income taxes: |  |  |  |  |  |  |  |  |
U.S. |  | $ | 21.7 |  |  | $ | 0.8 |  |  | $ | 284.1 |
International |  |  | 0.3 |  |  |  | (28.5 | ) |  |  | 95.6 |
Total income (loss) before income taxes |  | $ | 22.0 |  |  | $ | (27.7 | ) |  | $ | 379.7 |
Income tax expense (benefit): |  |  |  |  |  |  |  |  |
Current: |  |  |  |  |  |  |  |  |
U.S. |  | $ | 5.4 |  |  | $ | (11.3 | ) |  | $ | 49.1 |
International |  |  | 3.1 |  |  |  | 1.7 |  |  |  | 11.8 |
Current income tax expense (benefit) |  |  | 8.5 |  |  |  | (9.6 | ) |  |  | 60.9 |
Deferred: |  |  |  |  |  |  |  |  |
U.S. |  |  | (2.3 | ) |  |  | 0.1 |  |  |  | 3.8 |
International |  |  | (0.3 | ) |  |  | (51.5 | ) |  |  | 12.1 |
Deferred income tax (benefit) expense |  |  | (2.6 | ) |  |  | (51.4 | ) |  |  | 15.9 |
Total income tax expense (benefit) |  | $ | 5.9 |  |  | $ | (61.0 | ) |  | $ | 76.8 |
Schedule of Reconciliation of the Provision for Income Taxes at the U.S. Federal Statutory Income Tax Rate to the Actual Income Tax Provision | A reconciliation of the provision for income taxes at the U.S. federal statutory income tax rate of 21.0% to the effective income tax rate, for the year ended December 31, 2021, 2020 and 2019 is as follows:
(In millions) |  | 2021 |  |  | 2020 |  |  | 2019 |
Provision (benefit) for taxes at U.S. federal statutory rate |  | $ | 4.6 |  |  | $ | (5.8 | ) |  | $ | 79.7 |
State and local taxes, net of federal benefit |  |  | (0.1 | ) |  |  | (4.2 | ) |  |  | 3.6 |
Foreign effective rate differential |  |  | 0.7 |  |  |  | (1.9 | ) |  |  | 5.1 |
Tax credits |  |  | (3.5 | ) |  |  | (3.0 | ) |  |  | (8.8 | )
Change in valuation allowance |  |  | 0.7 |  |  |  | (39.5 | ) |  |  | (1.9 | )
Remeasurement of deferred taxes |  |  | 1.4 |  |  |  | 3.5 |  |  |  | 0.4 |
Excess tax benefits on stock-based compensation |  |  | (0.2 | ) |  |  | (0.9 | ) |  |  | (4.9 | )
Other |  |  | 2.6 |  |  |  | (4.3 | ) |  |  | 1.0 |
(Decrease) increase in reserves for uncertain tax positions |  |  | (0.3 | ) |  |  | (4.9 | ) |  |  | 1.2 |
Global intangible low taxed income |  |  | — |  |  |  | — |  |  |  | 1.4 |
Total income tax expense (benefit) |  | $ | 5.9 |  |  | $ | (61.0 | ) |  | $ | 76.8 |
Schedule of Deferred Income Taxes | Principal components of deferred income taxes as of December 31, 2021 and 2020 are:
(In millions) |  | 2021 |  |  | 2020 |
Assets |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 93.5 |  |  | $ | 96.5 |
Capital loss carryforward |  |  | 1.6 |  |  |  | 1.6 |
ASC 606 - revenue from contracts with customers |  |  | 5.7 |  |  |  | 8.4 |
Tax credit carryforwards |  |  | 10.3 |  |  |  | 9.9 |
Stock-based compensation |  |  | 7.8 |  |  |  | 7.6 |
Other comprehensive income |  |  | 21.1 |  |  |  | 6.1 |
Inventory reserves |  |  | 11.5 |  |  |  | 9.6 |
Right of use liability |  |  | 12.2 |  |  |  | 14.4 |
Reserves and other |  |  | 8.3 |  |  |  | 5.2 |
Subtotal |  |  | 172.0 |  |  |  | 159.3 |
Valuation allowance |  |  | (7.6 | ) |  |  | (6.9 | )
Total assets |  | $ | 164.4 |  |  | $ | 152.4 |
Liabilities |  |  |  |  |  |
Accelerated depreciation |  |  | (188.8 | ) |  |  | (194.5 | )
Accelerated amortization |  |  | (17.3 | ) |  |  | (14.8 | )
Right of use asset |  |  | (12.2 | ) |  |  | (14.4 | )
Other |  |  | (17.0 | ) |  |  | (8.8 | )
Total liabilities |  |  | (235.3 | ) |  | $ | (232.5 | )
Net deferred tax liabilities |  | $ | (70.9 | ) |  | $ | (80.1 | )
Schedule of Classification of Deferred Tax Assets and Deferred Tax Liabilities in Consolidated Balance Sheets | Deferred tax assets and deferred tax liabilities as presented in the Consolidated Balance Sheets as of December 31, 2021 and 2020 are as follows and are recorded in other assets and deferred income taxes in the Consolidated Balance Sheets:
(In millions) |  | 2021 |  |  | 2020 |
Long-term deferred tax assets, net |  | $ | 69.1 |  |  | $ | 72.9 |
Long-term deferred tax liability, net |  |  | (140.0 | ) |  |  | (153.0 | )
Net deferred tax liabilities |  | $ | (70.9 | ) |  | $ | (80.1 | )
Schedule of Unrecognized Tax Benefits | The following table summarizes the activity related to our unrecognized tax benefits.
|  | Unrecognized Tax Benefits |
(In millions) |  | 2021 |  |  | 2020 |  |  | 2019 |
Balance as of January 1, |  | $ | 10.5 |  |  | $ | 18.1 |  |  | $ | 7.5 |
Additions based on tax positions related to the current year |  |  | 0.2 |  |  |  | 0.3 |  |  |  | 11.0 |
(Reductions) additions for tax positions of prior years |  |  | — |  |  |  | (7.9 | ) |  |  | (0.1 | )
Expiration of the statute of limitations for the assessment of taxes |  |  | (1.0 | ) |  |  | — |  |  |  | (0.3 | )
Balance as of December 31, |  | $ | 9.7 |  |  | $ | 10.5 |  |  | $ | 18.1 |

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