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Income Taxes Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The components of income (loss) before income taxes for the periods were as follows (in millions):

	Years Ended December 31,
	2017				2016				2015
Domestic	$	(59.2	)		$	2.5			$	102.4
Foreign	(5.2		)		(7.4		)		54.5
Income (loss) before income taxes	$	(64.4	)		$	(4.9	)		$	156.9

Summary of Provision for Income Taxes

The provision for income taxes consists of the following (in millions):

	Years Ended December 31,
	2017				2016				2015
Current:
Federal	$	2.0			$	—			$	15.8
Foreign	5.0				2.4				3.3
State and local	(3.3		)		0.1				4.2
Total current	3.7				2.5				23.3
Deferred:
Federal	(214.9		)		3.5				20.4
Foreign	(4.6		)		(2.3		)		0.1
State and local	(8.9		)		11.1				1.8
Total deferred	(228.4		)		12.3				22.3
Total income tax (benefit) provision	$	(224.7	)		$	14.8			$	45.6

Schedule of U.S. and Foreign Deferred Tax Assets and Liabilities

The principal items of the U.S. and foreign net deferred tax assets and liabilities are as follows (in millions):

	December 31, 2017				December 31, 2016
Deferred tax assets:
Employee benefit plans	$	5.4			$	7.1
Tax credit carryforwards	4.2				1.5
Accrued and prepaid expenses	31.7				38.6
Net operating loss carryforwards	46.5				90.7
Total deferred tax assets	87.8				137.9
Less: valuation allowance	(7.6		)		(4.5		)
Total net deferred tax assets	80.2				133.4
Deferred tax liabilities:
Deferred state gain	(5.8		)		(5.5		)
Depreciation on tangible assets	(469.7		)		(721.1		)
Intangible assets	(66.2		)		(98.9		)
Total deferred tax liabilities	(541.7		)		(825.5		)
Net deferred tax liability	$	(461.5	)		$	(692.1	)

Reconciliation of Statutory and Effective Tax Rates

The income tax in the accompanying consolidated statements of operations differs from the income tax calculated by applying the statutory federal income tax rate to income (loss) before income taxes due to the following (in millions):

	Years Ended December 31,
	2017				2016				2015
Income tax (benefit) provision at statutory rate	$	(22.5	)		$	(1.7	)		$	54.9
Increases (decreases) resulting from:
Foreign taxes	1.9				0.8				2.2
State and local income taxes, net of federal income tax	0.9				11.2				4.5
Federal and foreign	0.5				3.2				(0.3		)
Enactment of the 2017 Tax Act	(207.1		)		—				—
Finalization of estimates from Spin-Off	(0.9		)		—				—
Change in valuation allowance	2.8				1.3				3.8
Benefit from sale of non-U.S. operations	—				—				(20.4		)
All other items, net	(0.3		)		—				0.9
Income tax (benefit) provision	$	(224.7	)		$	14.8			$	45.6

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
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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.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
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