Income Taxes (Tables)
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12 Months Ended |
Dec. 31, 2014 |
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| Income Tax Disclosure [Abstract] |
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| Schedule of Domestic and Foreign Components of Loss from Continuing Operations before Income Taxes |
The components of our loss from continuing operations before income taxes are as follows: | | | | | | | | | | | | | | | | Year ended December 31, | | 2014 | | 2013 | | 2012 | | in millions | | | | | | | U.S. | $ | (1,105.6 | ) | | $ | (306.3 | ) | | $ | (73.3 | ) | The Netherlands | (644.5 | ) | — |
| 799.9 |
| — |
| (152.3 | ) | U.K. | 585.7 |
| | (976.0 | ) | | (11.6 | ) | Switzerland | 326.1 |
| | 284.3 |
| | 274.8 |
| Germany | (294.7 | ) | — |
| (355.8 | ) | — |
| (498.4 | ) | Belgium | 21.5 |
| — |
| 89.5 |
| — |
| 96.9 |
| Other | 55.6 |
| | (62.1 | ) | | (145.0 | ) | Total | $ | (1,055.9 | ) | | $ | (526.5 | ) | | $ | (508.9 | ) |
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| Schedule Of Income Tax Expense Benefit Text Block |
Income tax benefit (expense) consists of: | | | | | | | | | | | | | | Current | | Deferred | | Total | | in millions | Year ended December 31, 2014: | | | | | | Continuing operations: | | | | | | U.K. | $ | (2.1 | ) | | $ | 113.4 |
| | $ | 111.3 |
| U.S. (a) | (22.5 | ) | | 129.6 |
| | 107.1 |
| Belgium | (138.7 | ) | | 31.7 |
| | (107.0 | ) | Switzerland | (76.8 | ) | | 3.1 |
| | (73.7 | ) | The Netherlands | 11.1 |
| | 42.5 |
| | 53.6 |
| Germany | (22.6 | ) | | 37.0 |
| | 14.4 |
| Other | (24.0 | ) | | (6.7 | ) | | (30.7 | ) | Total — continuing operations | $ | (275.6 | ) | | $ | 350.6 |
| | $ | 75.0 |
| Discontinued operations | $ | — |
| | $ | (0.1 | ) | | $ | (0.1 | ) | | | | | | | Year ended December 31, 2013: | | | | | | Continuing operations: | | | | | | U.K | $ | (2.4 | ) | | $ | (245.2 | ) | | $ | (247.6 | ) | Belgium | (97.1 | ) | | (16.2 | ) | | (113.3 | ) | The Netherlands | 0.5 |
| | 97.3 |
| | 97.8 |
| Switzerland | (53.6 | ) | | (4.4 | ) | | (58.0 | ) | Germany | (13.2 | ) | | (38.1 | ) | | (51.3 | ) | U.S. (a) | (106.0 | ) | | 104.9 |
| | (1.1 | ) | Other | (65.1 | ) | | 83.1 |
| | 18.0 |
| Total — continuing operations | $ | (336.9 | ) | | $ | (18.6 | ) | | $ | (355.5 | ) | Discontinued operations | $ | (20.5 | ) | | $ | (2.2 | ) | | $ | (22.7 | ) | | | | | | | Year ended December 31, 2012: | | | | | | Continuing operations: | | | | | | Germany | $ | 4.0 |
| | $ | 119.6 |
| | $ | 123.6 |
| The Netherlands | (8.2 | ) | | (67.6 | ) | | (75.8 | ) | Switzerland | (8.7 | ) | | (63.7 | ) | | (72.4 | ) | Belgium | (1.5 | ) | | (54.5 | ) | | (56.0 | ) | U.S. (a) | 38.2 |
| | (44.6 | ) | | (6.4 | ) | U.K. | (0.1 | ) | | (0.7 | ) | | (0.8 | ) | Other | (62.7 | ) | | 75.5 |
| | 12.8 |
| Total — continuing operations | $ | (39.0 | ) | | $ | (36.0 | ) | | $ | (75.0 | ) | Discontinued operations | $ | (14.8 | ) | | $ | (13.3 | ) | | $ | (28.1 | ) |
_______________
| | (a) | Includes federal and state income taxes. Our U.S. state income taxes were not material during any of the years presented. |
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| Income Tax Benefit (Expense) Reconciliation Table |
Income tax benefit (expense) attributable to our loss from continuing operations before income taxes differs from the amounts computed using the applicable income tax rate as a result of the following factors: | | | | | | | | | | | | | | Year ended December 31, | | 2014 | | 2013 | | 2012 | | in millions | | | | | | | Computed “expected” tax benefit (a) | $ | 221.7 |
| | $ | 121.1 |
| | $ | 178.1 |
| Change in valuation allowances (b): | | | | | | Decrease | (373.1 | ) | | (112.6 | ) | | (148.3 | ) | Increase | 11.9 |
| | 31.7 |
| | 25.6 |
| International rate differences (b) (c): | | | | | | Increase | 266.4 |
| | 148.2 |
| | 60.6 |
| Decrease | (27.6 | ) | | (50.8 | ) | | (81.8 | ) | Non-deductible or non-taxable interest and other expenses (b): | | | | | | Decrease | (236.5 | ) | | (133.5 | ) | | (84.7 | ) | Increase | 58.0 |
| | 85.2 |
| | 2.4 |
| Tax effect of intercompany financing | 166.9 |
| | 82.7 |
| | — |
| Basis and other differences in the treatment of items associated with investments in subsidiaries and affiliates | (135.4 | ) | | (4.0 | ) | | (24.6 | ) | Non-deductible or non-taxable foreign currency exchange results (b): | | | | | | Increase | 71.9 |
| | 0.5 |
| | — |
| Decrease | (16.3 | ) | | (56.1 | ) | | (10.4 | ) | Recognition of previously unrecognized tax benefits | 29.5 |
| | — |
| | — |
| Enacted tax law and rate changes (d) | 23.9 |
| | (377.8 | ) | | 12.3 |
| Change in subsidiary tax attributes due to a deemed change in control | — |
| | (88.0 | ) | | — |
| Other, net | 13.7 |
| | (2.1 | ) | | (4.2 | ) | Total income tax benefit (expense) | $ | 75.0 |
| | $ | (355.5 | ) | | $ | (75.0 | ) |
_______________
| | (a) | The statutory or “expected” tax rates are the U.K. rate of 21.0%, the U.K. rate of 23.0% and the U.S. rate of 35.0% for 2014, 2013 and 2012, respectively. |
| | (b) | Country jurisdictions giving rise to increases are grouped together and shown separately from country jurisdictions giving rise to decreases. |
| | (c) | Amounts reflect adjustments (either an increase or a decrease) to “expected” tax benefit for statutory rates in jurisdictions in which we operate outside of the U.K. for 2014 and 2013 and outside of the U.S. for 2012. |
| | (d) | In April 2014, the U.K. corporate income tax rate decreased from 23.0% to 21.0%, with a further decline to 20.0% scheduled for April 2015. Substantially all of the impact of these rate changes on our deferred tax balances was recorded in the third quarter of 2013. |
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| Schedule Of Current And Noncurrent Deferred Tax Assets And Liabilities Text Block |
The current and non-current components of our deferred tax assets are as follows: | | | | | | | | | | December 31, | | 2014 | | 2013 | | in millions | | | | | Current deferred tax assets | $ | 290.3 |
| | $ | 226.1 |
| Non-current deferred tax assets (a) | 2,587.0 |
| | 2,641.8 |
| Current deferred tax liabilities (a) | (0.6 | ) | | (1.5 | ) | Non-current deferred tax liabilities (a) | (2,369.4 | ) | | (1,554.2 | ) | Net deferred tax asset | $ | 507.3 |
| | $ | 1,312.2 |
|
_______________
| | (a) | Our current deferred tax liabilities are included in other accrued and current liabilities, and our non-current deferred tax assets and liabilities are included in other assets, net, and other long-term liabilities, respectively, in our consolidated balance sheets. |
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| Schedule Of Deferred Tax Assets and Liabilities Text block |
The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are presented below: | | | | | | | | | | December 31, | | 2014 | | 2013 | | in millions | Deferred tax assets: | | | | Net operating loss and other carryforwards | $ | 6,637.9 |
| | $ | 7,286.1 |
| Property and equipment, net | 3,469.2 |
| | 3,470.7 |
| Debt | 1,189.0 |
| | 837.7 |
| Derivative instruments | 345.9 |
| | 518.4 |
| Intangible assets | 149.6 |
| | 187.5 |
| Other future deductible amounts | 265.3 |
| | 265.0 |
| Deferred tax assets | 12,056.9 |
| | 12,565.4 |
| Valuation allowance | (6,679.4 | ) | | (7,052.8 | ) | Deferred tax assets, net of valuation allowance | 5,377.5 |
| | 5,512.6 |
| Deferred tax liabilities: | | | | Intangible assets | (2,338.2 | ) | | (1,471.1 | ) | Property and equipment, net | (1,861.4 | ) | | (1,945.3 | ) | Investments | (367.6 | ) | | (400.7 | ) | Derivative instruments | (142.7 | ) | | (129.5 | ) | Other future taxable amounts | (160.3 | ) | | (253.8 | ) | Deferred tax liabilities | (4,870.2 | ) | | (4,200.4 | ) | Net deferred tax asset | $ | 507.3 |
| | $ | 1,312.2 |
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| Summary of Operating Loss Carryforwards [Table Text Block] |
The significant components of our tax loss carryforwards and related tax assets at December 31, 2014 are as follows: | | | | | | | | | | | | Country | | Tax loss carryforward | | Related tax asset | | Expiration date | | in millions | | | | | | | | | U.K. | $ | 21,119.2 |
| | $ | 4,223.8 |
| | Indefinite | The Netherlands | 3,025.8 |
| | 756.4 |
| | 2015-2023 | Germany | 2,670.1 |
| | 424.8 |
| | Indefinite | U.S. | 1,550.3 |
| | 405.1 |
| | 2019-2034 | Luxembourg | 1,030.7 |
| | 301.2 |
| | Indefinite | France | 585.1 |
| | 201.4 |
| | Indefinite | Belgium | 506.3 |
| | 172.1 |
| | Indefinite | Ireland | 466.0 |
| | 58.2 |
| | Indefinite | Hungary | 209.8 |
| | 39.9 |
| | 2025 | Other | 240.7 |
| | 55.0 |
| | Various | Total | $ | 31,404.0 |
| | $ | 6,637.9 |
| | |
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| Unrecognized Tax Benefits Roll Forward Table Text Block |
The changes in our unrecognized tax benefits are summarized below: | | | | | | | | | | | | | | 2014 | | 2013 | | 2012 | | in millions | | | | | | | Balance at January 1 | $ | 490.9 |
| | $ | 359.7 |
| | $ | 400.6 |
| Additions for tax positions of prior years | 64.5 |
| | 41.5 |
| | 5.5 |
| Reductions for tax positions of prior years | (50.2 | ) | | (14.2 | ) | | (124.2 | ) | Additions based on tax positions related to the current year | 38.2 |
| | 102.3 |
| | 89.9 |
| Foreign currency translation | (27.0 | ) | | 7.9 |
| | 2.9 |
| Lapse of statute of limitations | (1.9 | ) | | (6.3 | ) | | (15.0 | ) | Settlements with tax authorities | (1.0 | ) | | — |
| | — |
| Balance at December 31 | $ | 513.5 |
| | $ | 490.9 |
| | $ | 359.7 |
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