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Income Taxes (Tables) | 3 Months Ended
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Mar. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Income Tax Benefit (Expense) Reconciliation | Income tax expense attributable to our earnings (loss) before income taxes differs from the amounts computed using the applicable income tax rate as a result of the following factors:
|  |  | Three months ended March 31,
|  |  |  |  | 2024 |  | 2023
|  |  |  |  | in millions
Computed “expected” tax benefit (expense) (a) |  |  |  |  | $ | (138.5) |  |  | $ | 164.7 |
Non-deductible or non-taxable foreign currency exchange results |  |  |  |  | 164.2 |  |  | (88.2) |
Non-deductible or non-taxable interest and other expenses |  |  |  |  | (27.1) |  |  | (26.1) |
Change in valuation allowances |  |  |  |  | (20.9) |  |  | 19.7 |
International rate differences (b) |  |  |  |  | (6.2) |  |  | (4.4) |
Basis and other differences in the treatment of items associated with investments in subsidiaries and affiliates |  |  |  |  | (3.6) |  |  | (76.6) |
Other, net |  |  |  |  | 5.2 |  |  | (1.6) |
Total income tax expense |  |  |  |  | $ | (26.9) |  |  | $ | (12.5) |
_______________ (a)The statutory or “expected” tax rates are the U.K. rates of 25.0% for the 2024 period and 23.5% for the 2023 period. The statutory rate for the 2023 period represents the blended rate in effect for the year ended December 31, 2023 based on the 19.0% statutory rate that was in effect for the first quarter of 2023 and the 25.0% statutory rate that is in effect from April 1, 2023. Although we are domiciled in Bermuda, we use the U.K. statutory rate to compute our “expected” tax benefit (expense) as management believes it is more meaningful. (b)Amounts reflect adjustments (either a benefit or expense) to the “expected” tax benefit (expense) for statutory rates in jurisdictions in which we operate outside of the U.K.

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- 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://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
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