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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2014
Income Tax Disclosure [Abstract] |
Components of Income Tax Expense |
|  | Years ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
|  | (In thousands) |
Income (loss) from continuing operations before taxes: |  |  |  |  |  |  |  |  |  |  |  |
United States operations |  | $ | 14,042 |  |  | $ | 31,678 |  |  | $ | (22,533 | )
Foreign operations |  |  | 67,504 |  |  |  | 95,371 |  |  |  | 27,575 |
Income from continuing operations before taxes |  | $ | 81,546 |  |  | $ | 127,049 |  |  | $ | 5,042 |
Income tax expense (benefit): |  |  |  |  |  |  |  |  |  |  |  |
Currently payable |  |  |  |  |  |  |  |  |  |  |  |
United States federal |  | $ | 6,701 |  |  | $ | (4,493 | ) |  | $ | (6,945 | )
United States state and local |  |  | 1,617 |  |  |  | (26 | ) |  |  | (2,519 | )
Foreign |  |  | 16,592 |  |  |  | 21,377 |  |  |  | 14,020 |
|  |  | 24,910 |  |  |  | 16,858 |  |  |  | 4,556 |
Deferred |  |  |  |  |  |  |  |  |  |  |  |
United States federal |  |  | (9,662 | ) |  |  | 3,575 |  |  |  | (22,660 | )
United States state and local |  |  | (746 | ) |  |  | 1,593 |  |  |  | (424 | )
Foreign |  |  | (7,388 | ) |  |  | 289 |  |  |  | (19,666 | )
|  |  | (17,796 | ) |  |  | 5,457 |  |  |  | (42,750 | )
Income tax expense (benefit) |  | $ | 7,114 |  |  | $ | 22,315 |  |  | $ | (38,194 | )
Effective Income Tax Rate Reconciliation from Continuing Operations |
|  | Years Ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Effective income tax rate reconciliation from continuing operations: |  |  |  |  |  |  |  |  |  |  |  |
United States federal statutory rate |  |  | 35.0 | % |  |  | 35.0 | % |  |  | 35.0 | %
State and local income taxes |  |  | 0.8 | % |  |  | 1.5 | % |  |  | (10.7 | %)
Impact of change in deferred tax asset valuation allowance |  |  | 4.7 | % |  |  | (0.6 | %) |  |  | (187.8 | %)
Impact of change in tax contingencies |  |  | (7.1 | %) |  |  | 3.8 | % |  |  | 3.3 | %
Impact of change in United States tax legislation |  |  | 0.0 | % |  |  | (3.3 | %) |  |  | 0.0 | %
Foreign income tax rate differences |  |  | (17.6 | %) |  |  | (12.1 | %) |  |  | (278.1 | %)
Federal and state impact of Cooper liability settlement |  |  | 0.0 | % |  |  | 0.0 | % |  |  | (416.5 | %)
Domestic permanent differences & tax credits |  |  | (7.1 | %) |  |  | (6.7 | %) |  |  | 97.3 | %
|  |  | 8.7 | % |  |  | 17.6 | % |  |  | (757.5 | %)
Components of Deferred Income Tax Balances |
|  | December 31, |
|  | 2014 |  |  | 2013 |
|  | (In thousands) |
Components of deferred income tax balances: |  |  |  |  |  |  |  |
Deferred income tax liabilities: |  |  |  |  |  |  |  |
Plant, equipment, and intangibles |  | $ | (90,414 | ) |  | $ | (97,229 | )
Deferred income tax assets: |  |  |  |  |  |  |  |
Postretirement, pensions, and stock compensation |  |  | 34,656 |  |  |  | 27,592 |
Reserves and accruals |  |  | 44,809 |  |  |  | 33,788 |
Net operating loss and tax credit carryforwards |  |  | 217,902 |  |  |  | 88,307 |
Valuation allowances |  |  | (157,317 | ) |  |  | (10,165 | )
|  |  | 140,050 |  |  |  | 139,522 |
Net deferred income tax asset |  | $ | 49,636 |  |  | $ | 42,293 |
Summary of Net Operating Loss Carryforwards | The following tables summarize our net operating loss carryforwards and tax credit carryforwards as of December 31, 2014 by jurisdiction:
|  | Net Operating Loss Carryforwards |
|  | (In thousands) |
France |  | $ | 272,351 |
United States - various states |  |  | 188,178 |
Netherlands |  |  | 73,828 |
Germany |  |  | 59,761 |
Japan |  |  | 27,410 |
Australia |  |  | 15,901 |
Other |  |  | 14,658 |
Total |  | $ | 652,087 |
Summary of Tax Credit Carryforwards |
|  | Tax Credit Carryforwards |
|  | (In thousands) |
United States |  | $ | 35,261 |
Canada |  |  | 21,758 |
Total |  | $ | 57,019 |
Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits | A reconciliation of the beginning and ending gross amount of unrecognized tax benefits is as follows:
|  | 2014 |  |  | 2013 |
|  | (In thousands) |
Balance at beginning of year |  | $ | 18,639 |  |  | $ | 17,377 |
Additions based on tax positions related to the current year |  |  | 663 |  |  |  | 1,932 |
Additions for tax positions of prior years |  |  | 73 |  |  |  | 3,761 |
Reductions for tax positions of prior years - Settlement |  |  | (7,907 | ) |  |  | (2,490 | )
Reduction for tax positions of prior years - Statute of limitations |  |  | (1,411 | ) |  |  | (1,941 | )
Balance at end of year |  | $ | 10,057 |  |  | $ | 18,639 |

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- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of 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 (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 + Details
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