XML 58 R46.htm IDEA: XBRL DOCUMENT
v3.20.2

Income Taxes (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2020
Income Tax Disclosure [Abstract] |
Schedule of effective income tax rate reconciliation | The below chart provides a reconciliation between our reported effective tax rate and the EAETR of our continuing operations:
| Three Months Ended September 30,
| 2020 |  | 2019
(in Millions) | Before Tax | Tax | Effective Tax Rate % |  | Before Tax | Tax | Effective Tax Rate %
Continuing operations | $ | 148.9 |  | $ | 18.4 |  | 12.4 | % |  | $ | 119.5 |  | $ | 8.7 |  | 7.3 | %
Discrete items: |  |  |  |  |  |  |
Currency remeasurement (1) | $ | 3.8 |  | $ | 0.5 |  |  |  | $ | (6.3) |  | $ | — |  |
Other discrete items (2) | 77.2 |  | 3.1 |  |  |  | 29.2 |  | (1.9) |  |
Tax only discrete items (3) | — |  | 4.4 |  |  |  | — |  | 6.9 |  |
Total discrete items | $ | 81.0 |  | $ | 8.0 |  |  |  | $ | 22.9 |  | $ | 5.0 |  |
Continuing operations, before discrete items | $ | 229.9 |  | $ | 26.4 |  |  |  | $ | 142.4 |  | $ | 13.7 |  |
Estimated Annualized Effective Tax Rate (EAETR) |  |  | 11.5 | % |  |  |  | 9.6 | %
| Nine Months Ended September 30,
| 2020 |  | 2019
(in Millions) | Before Tax | Tax | Effective Tax Rate % |  | Before Tax | Tax | Effective Tax Rate %
Continuing operations | $ | 622.3 |  | $ | 82.3 |  | 13.2 | % |  | $ | 588.4 |  | $ | 75.6 |  | 12.8 | %
Discrete items: |  |  |  |  |  |  |
Currency remeasurement (1) | $ | 9.8 |  | $ | (1.9) |  |  |  | $ | 2.0 |  | $ | 2.8 |  |
Other discrete items (2) | 212.7 |  | 11.6 |  |  |  | 122.2 |  | 6.0 |  |
Tax only discrete items (3) | — |  | 15.8 |  |  |  | — |  | 9.2 |  |
Total discrete items | $ | 222.5 |  | $ | 25.5 |  |  |  | $ | 124.2 |  | $ | 18.0 |  |
Continuing operations, before discrete items | $ | 844.8 |  | $ | 107.8 |  |  |  | $ | 712.6 |  | $ | 93.6 |  |
Estimated Annualized Effective Tax Rate (EAETR) |  |  | 12.8 | % |  |  |  | 13.1 | %
___________________ (1)Represents transaction gains or losses for currency remeasurement offset by associated hedge gains or losses, which are accounted for discretely in accordance with U.S. GAAP. Certain transaction gains or losses for currency remeasurement are not taxable, while offsetting hedge gains or losses are taxable. (2)U.S. GAAP generally requires subsidiaries for which a full valuation allowance has been provided to be excluded from the EAETR. For the three and nine months ended September 30, 2020 and 2019, other discrete items were materially comprised of the accounting for excluded pretax losses of subsidiaries for which a full valuation allowance has been provided. (3)For the three and nine months ended September 30, 2020 and 2019, tax only discrete items are primarily comprised of the tax effect of currency remeasurement associated with foreign statutory operations, excess tax benefits associated with share-based compensation, changes in uncertain tax liabilities and related interest, and changes in tax law.

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 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 http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration