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Income Taxes (Tables)

12 Months Ended

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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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.

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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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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits.

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