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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of components of income before income taxes | The components of our income (loss) from continuing operations before income taxes and the provision for income taxes are as follows (in millions):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Income (loss) from continuing operations before income taxes: |  |  |  |  |
Domestic | $ | (209.7) |  |  | $ | (59.7) |  |  | $ | (55.8) |
Foreign | 63.2 |  |  | 98.3 |  |  | 70.1 |
Total | $ | (146.5) |  |  | $ | 38.6 |  |  | $ | 14.3 |
Income tax expense (benefit): |  |  |  |  |
Current: |  |  |  |  |
Federal | $ | 22.1 |  |  | $ | (9.2) |  |  | $ | (16.6) |
Foreign | 16.0 |  |  | 23.1 |  |  | 27.7 |
State | — |  |  | (1.6) |  |  | (0.4) |
Total current provision | 38.1 |  |  | 12.3 |  |  | 10.7 |
Deferred: |  |  |  |  |
Federal | (29.4) |  |  | (2.9) |  |  | 4.6 |
Foreign | 3.2 |  |  | 0.9 |  |  | 0.4 |
State | (3.6) |  |  | (0.3) |  |  | (0.6) |
Total deferred provision | (29.8) |  |  | (2.3) |  |  | 4.4 |
Income tax expense | $ | 8.3 |  |  | $ | 10.0 |  |  | $ | 15.1 |
Schedule of components of the provision for income taxes | The provision for income taxes was different from the U.S. federal statutory rate applied to income before taxes, and is reconciled as follows:
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Statutory rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State and local income taxes, net | 3.8 | % |  | (4.8) | % |  | 1.3 | %
Reserves for tax exposures | — | % |  | 0.4 | % |  | (1.2) | %
Change in valuation allowance | (25.2) | % |  | 8.5 | % |  | 9.5 | %
International operations | (4.7) | % |  | 2.9 | % |  | 56.2 | %
Stock-based compensation | (0.1) | % |  | — | % |  | (5.3) | %
Impact of law and rate change | 0.2 | % |  | (5.6) | % |  | 1.5 | %
Excess officer's compensation | (1.0) | % |  | 5.5 | % |  | 7.9 | %
Transaction costs | — | % |  | (0.2) | % |  | 2.5 | %
Refund claims | — | % |  | — | % |  | (19.2) | %
Goodwill and other intangibles impairment | (0.9) | % |  | — | % |  | — | %
Impact of acquisition and divestiture adjustments | 1.3 | % |  | — | % |  | 34.3 | %
Other, net | (0.1) | % |  | (1.8) | % |  | (2.9) | %
Effective rate | (5.7) | % |  | 25.9 | % |  | 105.6 | %
Schedule of deferred tax assets (liabilities) | Deferred tax assets (liabilities) are comprised of the following (in millions):
| December 31,
| 2023 |  | 2022
Gross deferred tax assets: |  |  |
Allowances for trade and finance receivables | $ | 8.1 |  |  | $ | 9.0 |
Accruals and liabilities | 4.3 |  |  | 3.9 |
Employee benefits and compensation | 9.2 |  |  | 7.1 |
Net operating loss carryforwards | 19.9 |  |  | 19.5 |
Right of use lease liability | 20.1 |  |  | 22.4 |
Other | 7.9 |  |  | 5.3 |
Total deferred tax assets | 69.5 |  |  | 67.2 |
Deferred tax asset valuation allowance | (63.2) |  |  | (25.3) |
Total | 6.3 |  |  | 41.9 |
Gross deferred tax liabilities: |  |  |
Property and equipment | (3.5) |  |  | (16.1) |
Goodwill and intangible assets | 4.1 |  |  | (49.9) |
Right of use lease asset | (18.7) |  |  | (21.0) |
Other | (6.1) |  |  | (2.6) |
Total | (24.2) |  |  | (89.6) |
Net deferred tax liabilities | $ | (17.9) |  |  | $ | (47.7) |
Schedule of expirations of gross tax benefit from state and federal net operating loss carryforwards | The tax benefit from state and federal net operating loss carryforwards expires as follows (in millions):
2024 | $ | 0.1 |
2025 | 0.2 |
2026 | 0.1 |
2027 | — |
2028 | — |
2029 and after | 19.5 |
| $ | 19.9 |
Schedule of reconciliation of the beginning and ending amount of unrecognized tax benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in millions):
| December 31,
| 2023 |  | 2022
Balance at beginning of period | $ | 5.8 |  |  | $ | 5.0 |
Increase in prior year tax positions | 9.2 |  |  | 0.4 |
Increase in current year tax positions | 0.7 |  |  | 1.4 |
Lapse in statute of limitations | (0.8) |  |  | (1.0) |
Balance at end of period | $ | 14.9 |  |  | $ | 5.8 |

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